( May 27, 2026, 17:00 GMT | Official Statement) -- MLex Summary: Brazil’s competition authority has begun administrative proceedings against Itaú Unibanco over discriminatory practices against rival digital wallets, according to the Official Journal. Itaú has been formally notified and granted 30 days to present its defense, specify evidence, and, if desired, name up to three witnesses to testimony at CADE’s headquarters. The case marks a significant step in scrutiny of major financial institutions in Brazil, with potential implications for competition enforcement in the banking sector.See Official Journal publication attached. ...
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