Bankers, FDIC explain new federal regulatory framework
November 28, 2012
The Puerto Rico Bankers Association and the Federal Deposit Insurance Corporation will sponsor the sixth edition of the Minority Depository Institution Training Seminar Nov 29-30, to provide participants with an overview of last year’s challenges within the world of regulatory compliance.
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New president, CFOs named at MCS
November 16, 2012
Looking to reinforce its local leadership, Medical Cards System Inc. CEO Jim O’Drobinak announced the promotions of David Scanavino to president of the MCS Advantage Inc. subsidiary, David P. Schaffer, to CFO of MCS Life Insurance Company and MCS Health Management Options; and José Aponte, to CFO of MCS Advantage Inc.
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Doral stock plunges 19%, faces delisting
November 13, 2012
Doral Financial Corp.’s stock plunged 19 percent Monday, closing at .57 cents per share. The significant drop comes in the wake of $32.5 million in third-quarter losses and a warning from the New York Stock Exchange of a possible delisting, as its stock has been trading for less than $1 over the past 30 days.
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Popular launches Mi Banco ‘app’ for Android devices
November 5, 2012
Six months after introducing its mobile banking application for the iPhone and iPod touch, Banco Popular de Puerto Rico announced the launch of the version for Android devices.
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OFG looking to raise some $45.7M through stock sale
October 26, 2012
Oriental Financial Group Inc. announced Thursday it is looking to raise some $45.7 million from the sale of 4,390,243 shares of its common stock at a price of $11.10 per share.
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OFG posts $14.7M in 3Q profit; announces stock offering
October 25, 2012
Oriental Financial Group Inc. released third quarter results Wednesday, reporting $14.7 million in profits — representing a 7 percent increase from the preceding quarter and a 5.5 percent drop from the same year-ago, three-month period.
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FirstBank gets high marks for personalized service
October 25, 2012
Over the past year, FirstBank has been in pursuit of offering personalized services to its Puerto Rico customer base.
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Velox24.com steers into Puerto Rico auto insurance market
October 4, 2012
Effective today, Puerto Rico consumers will have a new online option when it comes to buying car insurance.
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Bankers Association marks decade of community reinvestment
October 2, 2012
The Puerto Rico Bankers Association this week will celebrate 10 years of the local banking industry’s contribution and impact on the development of the island’s communities with a series of educational events during “Community Reinvestment Week 2012,” organization officials said Monday.
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FirstBank Puerto Rico in ‘expansion mode’ in Florida
September 28, 2012
FirstBank Puerto Rico is aggressively expanding its footprint in Florida, where it plans to open three new branches before year’s end, Calixto García-Vélez, regional executive for the financial institution’s Florida region confirmed Thursday.
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Almodóvar-Scalley takes over helm of Triple-S Salud
September 28, 2012
With a focus on supporting preventive medicine programs and expediting the use of electronic medical records, insurance industry veteran Pablo Almodóvar-Scalley will take over the helm of Triple-S Salud effective Oct. 1.
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Carrión, Laffitte & Casellas sold to Hub International Ltd.
September 25, 2012
Chicago-based Hub International Limited announced it has entered into a definitive agreement to acquire full service insurance brokerage firm Carrión, Laffitte & Casellas Inc. for an undisclosed amount.
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Popular launches partial guarantee loan option
September 21, 2012
Banco Popular de Puerto Rico launched Thursday what may be a first for the island’s commercial banking sector: giving consumers the option to put their savings up as partial collateral when applying for a personal loan.
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Doral enters into agreement with Federal Reserve
September 13, 2012
Doral Financial Corporation and the Federal Reserve Bank of New York entered into an agreement Thursday requiring the financial institution to abide by a number of conditions to improve its credit risk management and administration practices.
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Gov. Fortuño signs foreclosure mediation law
August 21, 2012
Despite intense last minute lobbying by Puerto Rico's banking sector, Gov. Luis G. Fortuño has signed a law requiring that all foreclosure proceedings of a primary residence include compulsory mediation. The law is effective in July 2013.
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