Puerto Rico’s financial system — which comprises local and international commercial banks, cooperatives, mortgage and investment companies, and public banks, among others — reported $147.6 billion in assets during the third quarter of 2013, down about 2 percent from the $151.2 billion on record for the same period in 2012.
The Financial Institutions Commissioner (known as OCIF for its initials in Spanish) announced Thursday it issued a “Cease and Desist” order against Hotel Campomar and Restaurant in Toa Baja, and its president Carlos Fuentes, for operating an unlicensed gambling hall.
Gov. Luis Fortuño appointed former BBVA executive and banking industry veteran Rafael Blanco to head the Office of the Financial Institutions Commissioner, effective Jan. 1. Blanco will succeed current OCIF chief Alfredo Padilla, who will retire after nine years at the agency.
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