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 […]
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 […]
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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