PYMNTS
MAY 2, 2017
In a partnership formed recently with Puerto Rico’s Oriental Bank, Biz2Credit said late last month that it has begun offering its digital lending platform to the bank’s commercial clients. Verticals within the SMB realm that may be receptive to online lending, he said, include manufacturing and retail.
PYMNTS
OCTOBER 3, 2016
In 2010, Westernbank Puerto Rico, the country’s second-largest commercial bank, took a loss of more than $140 million on loans to a Florida businessman, 53-year-old Jack Kachkar, which contributed to its failure, according to the FDIC’s inspector general. to borrow tens of millions of dollars in credit from Westernbank Puerto Rico.
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PYMNTS
AUGUST 8, 2019
The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances. Many people living paycheck to paycheck already make more than median income.”.
PYMNTS
AUGUST 25, 2017
Moving into lending news, U.K.-based Walmart is getting in on the lending game in its own way with the unveiling of an installment loan offering that will allow people to put higher-priced items on a payment schedule. 96 million | Amount CFPB ordered American Express to pay out to affected Puerto Rico and the U.S.
PYMNTS
JULY 4, 2016
70 billion in debts are threatening to cripple Puerto Rico , the result of the government borrowing to keep its state-run businesses afloat, among other factors. The island’s debt crisis is complicated further by the fact that Puerto Rico does not have the legal ability to restructure its debt.
Independent Banker
OCTOBER 1, 2021
They named the community bank after the Spanish explorer and governor of Puerto Rico, Juan Ponce de León, to honor its founders’ roots. “If The businesspeople recognized that and said, ‘Listen, we’ve got to essentially pull the community’s resources together so that we can lend and help businesses grow.’”.
American Banker
JANUARY 28, 2020
The largest bank in Puerto Rico said hundreds of millions of dollars of its mortgages and consumer loans are tied to the parts of the island hit by the recent quake or still recovering from two hurricanes.
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