Banking regulator OCIF left out of Doral/Treasury accord
June 18, 2014
The Office of the Commissioner of Financial Institutions, Puerto Rico’s banking watchdog, was left out of the talks leading to the agreement through which the Treasury Department approved a $229 million tax refund to Doral Financial Corp., the regulator said Tuesday during a House public hearing.
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A.M. Best upgrades Universal Life Insurance Co. ratings
June 18, 2014
A.M. Best announced Tuesday it has upgraded Hato-Rey based Universal Life Insurance Company’s financial strength rating to A- (Excellent) from B++ (Good) and the issuer credit rating to “a-” from “bbb+.”
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Oriental Bank to manage Ana G. Méndez retirement plan
June 18, 2014
Oriental Bank and the Ana G. Méndez University System recently signed an agreement whereby the bank will provide management and advisory services to the institution on its 401K retirement plan.
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