Banco Popular De Puerto Rico
FRB: Press Release -- Approval of proposal of Popular, Inc. and other banks -- November 16, 1998
Popular, Inc., Hato Rey, Puerto Rico ("Popular"), a bank holding company within the meaning of the Bank Holding Company Act ("BHC Act"), and its subsidiaries propose to reorganize their holdings in a manner that requires the Board's approval under section 3 of the BHC Act (12 U.S.C. § 1842) and section 18(c) of the Federal Deposit Insurance Act (12 U.S.C. § 1828(c)) ("Bank Merger Act"). As part of this proposal, Popular would reorganize its banking operations under two de novo banks, one organized under the laws of Puerto Rico and the other organized under the laws of New York, that propose to become members of the Federal Reserve System pursuant to sections 9 and 19(h) of the Federal Reserve Act ("FRA") (12 U.S.C. § § 321 and 466). The Puerto Rican de novo bank, Popular Transition Bank, Hato Rey, Puerto Rico ("New Banco Popular"), also proposes to operate a branch and agency in the United States pursuant to section 7(d) of the International Banking Act ("IBA") (12 U ... [Read More]
FRB: Press Release -- Approval of the applications of Popular, Inc., Hato Rey, Puerto Rico -- June 5, 2000
The Federal Reserve Board today announced its approval of the applications of Popular, Inc., Hato Rey, Puerto Rico, and its subsidiaries to acquire Banco Popular, National Association, Orlando, Florida, a de novo bank, and to establish a foreign branch and an agreement corporation in Culebra, Puerto Rico. ... Attached is the Board's Order relating to this action. ... 2000 Orders on banking applications ... [Read More]
National Wheel Chair Games
Banco Popular of Puerto Rico ... Club Nautico de San Juan ... Autoridad Metropolitana de Autobuses (AMA) ... [Read More]
FRB: Press Releases -- Enforcement Actions -- 2000
Termination of Temporary Orders to Cease and Desist issued against Banco Nacional de Mexico, Banco Internacional, and Banco Santander ... Written Agreement with Independent Southern Bancshares Employee Stock Ownership Trust and Independent Southern Bancshares ... Final Decision and Order of Prohibition against Sammie R. Golden ... [Read More]
Implementation of EFT Requirements
I would also like to welcome my friend, Mr. Richard Carrion, President and CEO of Banco Popular de Puerto Rico and Banco Popular, whose vision and foresight has played an instrumental role in the success of Banco Popular being the number one ETA provider in the United States and in Puerto Rico, a success story I think that this subcommittee has to examine very, very carefully. ... We also operate several subsidiaries including Popular Mortgage, Popular Securities, Popular Leasing in Puerto Rico and we also have a presence in over 30 U.S. States with our Equity One Mortgage Subsidiary, Popular Cash Express, Banco Popular National Association and Banco Popular North America, the largest Hispanic bank in the mainland. ... [Read More]
FRB: Press Release -- Approval of applications of Banco Popular de Puerto Rico -- May 27, 1997
The Bank Merger Act also requires the Board to consider the financial and managerial resources and future prospects of the existing and proposed institutions and the convenience and needs of the community to be served. The Board has carefully considered these factors in light of all the facts of record. The facts of record include supervisory reports of examination assessing the financial and managerial resources of the organizations and their performance under the Community Reinvestment Act, and financial and other information provided by Banco Popular. Based on these and all other facts of record, the Board concludes that all the supervisory factors, and all considerations related to the convenience and needs of the community to be served, are consistent with approval under the Bank Merger Act. The Board also concludes that all the factors that must be considered under the Federal Reserve Act are consistent with approval. ... [Read More]
FRB: Press Release -- Written Agreement by Banco Popular de Puerto Rico, and FRB New York -- March 9, 2000
The Federal Reserve Board today announced the execution of a Written Agreement by and between Banco Popular de Puerto Rico, Hato Rey, Puerto Rico, and the Federal Reserve Bank of New York. ... [Read More]
Chapter 16. Puerto Rico
The goal was to use EFT to improve the collection of wage withholdings. Prior to Puerto Rico's July 1995 IV-D reorganization (from a court-based to an administrative-based process), income withholdings from wages represented less than 4% of total collections. The use of EFT was phased in. All support payments, including EFT wage withholdings, are now made to the privatized-collections vendor, Banco Popular de Puerto Rico. ... (The savings calculation does not include employers who used EFT prior to the issuance of EFT orders, i.e. 1-98 EFT employers - in addition, the benefit to custodial parents who receive more timely and consistent payments as a result of this project has not been quantified) ... [Read More]
FRB: Press Release -- Approval of proposal of Banco Popular de Puerto Rico -- January 15, 2002
The Federal Reserve Board today announced its approval of theapplication by Banco Popular de Puerto Rico, Hato Rey, under section 18(c) of the Federal Deposit Insurance Act, to acquire certain branches of Banco Bilbao Vizcaya Argentaria Puerto Rico, San Juan, both in Puerto Rico. ... 2002 Orders on banking applications ... Attached is the Order relating to this action. ... [Read More]
FRB: Press Release -- Order of Assessment of Civil Money Penalty against Banco Popular de Puerto Rico -- June 21, 1999
The Federal Reserve Board today announced the issuance of an Order of Assessment of a Civil Money Penalty against Banco Popular de Puerto Rico, San Juan, Puerto Rico, a state member bank. ... The Order requires Banco Popular to pay a civil money penalty of $10,000. ... Banco Popular, without admitting to any allegations, consented to the issuance of the Order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. ... [Read More]
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