First BanCorp taking $66.6M charge on Lehman collateral
May 14, 2013
First BanCorp on Monday announced the U.S. Bankruptcy Court for the Southern District of New York denied the bank’s motion for summary judgment filed in connection to $66.6 million it had posted as collateral with Lehman Brothers Inc., which filed for Ch. 11 nearly five years ago.
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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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