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Paraguay's Senate voted unanimously to remove President Santiago Peña from offic
Paraguay's Senate voted unanimously to remove President Santiago Peña from office following the collapse of Ueno, a digital bank that had grown to serve a customer base described in reporting as more than half of the country's adult population. Regulators moved to take control of the institution after concerns about its solvency emerged, leaving millions unable to access savings or use payment cards. Lawmakers found Peña guilty of malfeasance in office, citing his role as a shareholder in the bank. He was subsequently placed under house arrest and appeared before prosecutors the following day. Vice President Pedro Alliana was sworn in and will serve out the presidential term through 2028. The episode has opened wider questions about how governments should regulate digital-first banks that can scale rapidly and reach populations with limited previous access to formal finance. When a digital bank fails and millions of people suddenly lose access to their money, who do you think should bear responsibility?