OFG Bancorp announced it has filed applications at four regulatory agencies for consent of its proposed acquisition of Scotiabank de Puerto Rico, according to public notices published Tuesday. The petitions to the Federal Reserve, the Federal Deposit Insurance Corp., the Puerto Rico Office of the Commissioner of Financial Institutions and the U.S. Virgin Islands Banking […]
National Public Finance Guarantee Corporation and MBIA Insurance Corporation filed suit in the San Juan Superior Court against eight Wall Street banks to hold them accountable for “inequitable conduct in Puerto Rico’s municipal bond market that contributed to Puerto Rico’s economic collapse.” Plaintiffs are bond insurers that have been presented with more than $1 billion […]
OFG Bancorp, parent company of Oriental Bank, announced the Virgin Islands Banking Board approved the first regulatory step related to the acquisition of Scotiabank’s U.S. Virgin Island operations. The permit authorizes Oriental to organize a bank in the territory. To assume Scotiabank’s operations and start serving customers in the USVI, Oriental will also need a license and approval from […]
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