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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Chicago groups join PR leaders calling for debt audit
May 26, 2017
Coinciding with the release of the “Wall Street’s Power Grab in Puerto Rico” study, VAMOS4PR and Chicago-based stateside labor, community, cultural, and human rights groups joined Puerto Rico leaders in calling for an audit into the legality of Puerto Rico’s $72 billion debt.
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Bill to toughen home foreclosure mediation gets support
May 25, 2017
The Associate Chairman of the American Association of Retired Persons, Eddie Olivera-Robles, on Wednesday backed a measure amending the Compulsory Mediation and Home Preservation Act, to give it more teeth when it comes to foreclosure proceedings.
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OCIF: Puerto Rico banks could benefit from fiscal board
September 20, 2016
Puerto Rico’s banking sector, which has been weathering the island’s economic storm for the better part of the last decade, could benefit from the arrival of the Fiscal Control Board, and the trust it could instill on future investors, Financial Institutions Commissioner Rafael Blanco said.
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Fitch: P.R. bank ratings reflect Commonwealth’s woes
July 19, 2016
Following the Commonwealth of Puerto Rico's default, ratings for the island's two main banks, Popular (BPOP) and First BanCorp (FBP), will not be immediately affected, according to Fitch Ratings.
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China focuses on funding LatAm infrastructure projects
February 26, 2016
Last year, despite sluggish economic growth in China that has made worldwide headlines, funding by CDB and the China Export-Import Bank reached a near-record $29 billion.
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Fed interest rate hike likely not to impact P.R. economy
December 17, 2015
The decision announced Wednesday by the Federal Reserve System to increase interest rates by 25 basis points “does not represent a significant impact” on Puerto Rico’s economy or for bank customers.
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Long-time Bankers Association executive VP retires
May 6, 2015
Arturo Carrión, who for the last 29 years served as executive vice president of the Puerto Rico Bankers Association, is retiring from his post on June 30, when he will be succeeded by Zoimé Álvarez-Rubio, trade group President José Rafael-Fernández announced Tuesday.
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SBA loans up 66% in Puerto Rico, USVI in 1Q15
February 12, 2015
The U.S. Small Business Administration approved 165 loans for $26.9 million in Puerto Rico and the U.S. Virgin Islands during the first three months of fiscal year 2015, an 11 percent and 66 percent increase, respectively, over first-quarter approvals in 2014.
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Puerto Rico banks announce Martin Luther King hours
January 19, 2015
Puerto Rico’s commercial banks will be observing today’s Martin Luther King holiday with special hours, scheduled as follows:
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Study: Banking clients ‘more satisfied’ with credit unions
December 10, 2014
Tired of ATM fees, overdraft penalties, charges for checking account maintenance, among other service expenses, customers are tilting more toward credit unions over commercial banks, the most recent report by the American Customer Satisfaction Index, overseen in Puerto Rico by Anderson Research International, concluded.
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Top Cuban economist pessimistic on island’s prospects
December 8, 2014
WASHINGTON — One of Cuba’s top experts on international finance was decidedly pessimistic when discussing the island’s economic prospects at a recent conference in Washington.
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PREPA reaches an arrangement with banking lenders
July 8, 2014
The cash-strapped Puerto Rico Electric Power Authority announced Monday it had reached an agreement with lenders who provide revolving lines of credit used to pay for purchased power, fuel and other expenses.
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