Caja Navarra scandal
2012 banking scandal in Spain / From Wikipedia, the free encyclopedia
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The Caja Navarra scandal was a banking scandal in northern Spain that unraveled in 2012 after the absorption of Caja Navarra (CAN) bank when it was integrated into the bad bank Banca Civica, by CaixaBank. Caja Navarra lost all its value which causing its actual demise. Caja Navarra's acronym and brand CAN was kept and converted into a foundation by the Spanish government. The highly controversial crash of the institution gave way to a demand of responsibilities.