Institute of Statistics launches banking performance dashboard
June 5, 2025
New interactive tool compiles FDIC-regulated bank data since 2001. #NewsismyBusiness
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Overdraft/NSF fee cuts save consumers $6B, banks lose revenue
May 13, 2024
Puerto Rico banks such as Banco Popular, FirstBank and Oriental Bank have moved to reduce or eliminate overdraft/NSF fees in recent years. #NewsismyBusiness
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Puerto Rico financial institutions no longer on list of money laundering risks
February 20, 2024
Gov. Pierluisi signs into law legislation to strengthen regulation and oversight of international banking and financial entities on the island. #NewsismyBusiness
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Federal Reserve’s FedNow Service for instant payments is now live
July 24, 2023
When fully available, instant payments will provide benefits such as when rapid access to funds is useful, or when just-in-time payments help manage cash flows in bank accounts. #NewsismyBusiness
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NY Gov. urges banks to support people, businesses hit by Hurricane Fiona
September 26, 2022
New banking guidance unveiled to ease financial burdens, including waiving ATM fees, expediting money transmission, and waiving late fees.
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Op-Ed: US vs. Puerto Rico banks, who’s ahead in ’22 and why?
May 11, 2022
We begin our analysis by examining the top 6 U.S. Bank holding companies, part of the Birling Capital U.S. Bank Index. We discuss how each bank holding company’s stock has fared from Jan. 1 to May 9 and compared to the Dow Jones, S&P 500, and Nasdaq and how they have managed against the Birling Capital U.S. Bank […]
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FDIC encourages banks to help borrowers in areas affected by severe weather
April 11, 2022
The action responds to the property damage experienced by consumers in Cataño, Dorado, Toa Baja, Vega Alta, and Vega Baja because of the storms that soaked Puerto Rico Feb. 4-6.
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Liquidity of Puerto Rico’s banks up $16B in 1Q21, Financial Stability Index says
June 23, 2021
The Financial Stability Index of commercial banks in Puerto Rico, prepared by Estudios Técnicos Inc., shows a strengthening in the banking industry this year, mainly due to an improvement in its liquidity and increases of $16 billion in deposits in the first quarter of 2021. “The index increased from 0.52 in the first quarter of […]
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USDA Rural Dev.’t awards 5 Puerto Rico banks for $109M in lending
July 2, 2020
U.S. Department of Agriculture Rural Development office in Puerto Rico announced the recipients of its “Top Lenders Awards” for approving $109 million in home loans. In June, the agency celebrates “Homeownership Month.” In 2020, the partnership between USDA Rural and local lending institutions has led to more than 3,700 families buying homes, said Puerto Rico […]
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P.R’s banking regulator sees ‘no major obstacle’ to Oriental-Scotiabank merger
August 22, 2019
Puerto Rico’s Office of Financial Institutions Commissioner George Joyner said although the deal is pending regulatory approvals, he sees “no major obstacle” for Oriental’s acquisition of Scotiabank de Puerto Rico’s assets to happen. In an interview on the “En Una Hora” program that airs on 11Q 1140 AM, in which News is my Business participates, […]
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Op-Ed: Banks’ ‘recklessness’ cost insurers $720M
August 21, 2019
Puerto Rico bond insurers this month filed suit against eight well-known investment banks (UBS, Citi, Goldman Sachs, J.P. Morgan Securities, Morgan Stanley, Merrill Lynch, RBC and Santander) for failing to perform proper diligence on Commonwealth bonds worth approximately $11 billion. The train of neglect ran from 2001 to 2015 and included revenue and expenditure falsification […]
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Moody’s: P.R. and its banks will benefit from federal economic analysis
March 13, 2019
The reason for the positive outlook is that Moody’s believes federal estimates of the island’s Gross Domestic Product “will bolster reforms by the island that should encourage unbanked residents to participate in the banking system, thereby spurring loan growth and increasing operating margins.” In its report, Moody’s predicted that the banks that will benefit are […]
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Oriental Bank slashes wait times by half at its branches
June 20, 2018
OFG Bancorp’s Oriental has significantly reduced wait times in its bank branches and increased the speed of customer service over the last year with the help of BookingBug, a platform that offers appointment scheduling, queuing and event capabilities.
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PR banks announce Sept. 26 limited schedules
September 26, 2017
Three of the island’s largest banks announced their operating schedules for Tuesday, when limited service will be offered throughout Puerto Rico.
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Parallel18 signs pair of collaborative agreements
August 10, 2017
San Juan-based startup accelerator Parallel18 announced Wednesday the signing of a pair of collaborative agreements — with the Puerto Rico International Banks Association and the Builders Association to create opportunities for up-and-coming businesses.
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