How a banking scandal is taking down Trump’s ally in Paraguay
- Posted on November 6, 2026
- By Business News Today
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- 1 min read
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How a banking scandal is taking down Trump’s ally in Paraguay
Paraguay's Ueno Bank has collapsed, leaving customers locked out of their accounts and prompting nationwide protests. President Santiago Peña faces impeachment while being linked to the bank's swift downfall amid allegations of misconduct. The Central Bank had found serious issues with Uenos lending practices prior to its seizure, which caused it to be declared insolvent. Regulators found that the bank issued loans beyond legal limits without proper categorization.
