Puerto Rico

The Toronto-based loan fintech received an IFE license from Puerto Rico to launch Propel Bank.

The deal was expected to close this summer, but First BanCorp said a regulatory review is hitting snags.

One credit union's experience helping Puerto Ricans after Hurricane Maria illustrates how powerful financial wellness tools can be.

Raging Capital Management also urged the company's board to repurchase stock and think about selling a minority stake in the payments processor Evertec.

Raging Capital Management also urged the company's board to repurchase stock and think about selling a minority stake in the payments processor Evertec.

The deal, which is expected to close in mid-2020, would create a company with nearly $18 billion of assets and more than $14 billion of deposits.

The heads of the island's largest banks are worried that ongoing protests over government corruption and other scandals are a setback to an economy slowly rebounding from the devastating hurricanes of 2017.

The $550 million purchase will include a branch in the U.S. Virgin Islands.

From new legislation to mergers and more, here's a look at measures from across the country that could change how credit unions do business.

The U.S. territory has some of the nation’s highest electricity prices, but a new law spurred by Puerto Rico’s cooperativas could be a game changer for the island.

The federal government's more active role in GDP, payroll and other vital statistics produced by the island could hasten its recovery from Hurricane Maria and lift lending and bank valuations at the same time.

Federal "Opportunity Zones" that reduce exposure on capital gains could draw rich investors — and commercial lenders along with them — into economic development projects in thousands of troubled communities around the country.

Credit unions based on the island made history receiving CDFI grants for the first time ever, but larger issues tied to population decline remain.

Few small businesses in Puerto Rico applied for credit to finance recovery from hurricane damage. The reasons are instructive for financial institutions’ response to disaster recovery, the New York Fed says.

In addition to CUs across the continental United States receiving grants, Puerto Rico's cooperativas de ahorro y credito were included for the first time.

Bankers in the East Coast hurricane's path — and everyone else — can learn from those who have survived natural disasters.

The Puerto Rican company added Daniel Frye, a former FDIC adviser, to its board.

Guy Gentile ran a stock brokerage. He spent years running sting operations as an FBI informant. Then, after he was arrested anyway, he beat the charges. Now his plan for his next act — opening a bank in Puerto Rico — is hitting a snag.

The agreement was tied to the Puerto Rico company's 2010 purchase of the failed Westernbank.

With the 2018 hurricane season just around the corner, a recent report from the Federal Reserve highlights how much competition credit unions face when it comes to lending to small businesses recovering from natural disasters.