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Brazilian banking federation burns its fingers with clumsy politics and faces disruption

RIO DE JANEIRO, BRAZIL - You would think a high-profile association like the Brazilian Banking Federation (Febraban) would be experienced enough to know when it's better to stay silent but that's obviously not the case.

The possible exit of Caixa Econômica Federal and Banco do Brasil from Febraban would mean a 22.5% loss of revenue for the main association of the Brazilian banking sector, according to sources familiar with the matter.

The two public banks are threatening to leave the institution due to a manifesto led by Fiesp and signed by some 100 industry representatives from . . .

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