While many Puerto Rico residents will kick off a four-day weekend today, commercial banks will be observing the July 25th Constitution Day celebration and Saturday’s José Celso Barbosa holiday with special hours.
Puerto Rico’s major banks announced their schedules for today’s Luis Muñoz Rivera holiday, some offering shorter service hours.
Fitch Ratings announced Thursday it had completed its review of four rated Puerto Rican Banks — Doral Financial Corp., First BanCorp, Popular Inc. and Santander Bancorp — adjusting and affirming its ratings and outlook for each financial institution.
Fitch Ratings expects Puerto Rican banks to face continuing operating challenges in 2013, despite recent efforts by those institutions to build capital and de-risk their balance sheets, the agency said in a statement issued Wednesday.
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.
In preparation for Tropical Storm Isaac’s trek through the Caribbean, News is my Business has rounded up some of the most significant announcements issued Wednesday on cancellations and other weather-related changes.
Given the unstoppable wave of foreclosures in Puerto Rico, where some 8,000 properties have been repossessed in recent years, homeowners have a pressing need for legal representation to avoid losing their dwellings.
In the last decade, Puerto Rico’s banking institutions have become more proactive when it comes to detecting and reporting suspicious possible money laundering activity to local and federal authorities.
Agriculture Secretary Javier Rivera-Aquino has set off an agressive strategic plan to convince private banks, which for years have shied away from the volatile sector, to invest in farming activity and new projects.
First BanCorp President Aurelio Alemán echoed Thursday what many other banking executives have been saying in recent months: the sector is slowly starting to pick up the pieces after the storm, but much work remains ahead for it to thrive again.
Ten months after South Florida-based BBU Bank acquired and merged Banesco International Bank Corp. into its mainland U.S. domestic banking operations, it will be changing its name to Banesco USA, the banking institution’s CEO Rafael "Rafo" Saldaña said.
Some 18,000 homeowners in Puerto Rico were facing the possibility of losing their homes to their mortgage bank as of November 2010, the Financial Institutions Commissioner’s office (OCIF, as it is known by its initials in Spanish) said Tuesday.
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