Puerto Rico Falls Prey To $4M Online Fraud

PYMNTS

An online scam targeted $4 million in retirement funds from at least four Puerto Rico agencies, according to reports on Thursday (Feb. Agencies affected include the Puerto Rico Industrial Development Co. and the Puerto Rico Tourism Co.

Popular in Puerto Rico urged by activist investor to sell

Payments Source

Regional banks M&A Growth strategies Capital Puerto RicoRaging Capital Management also urged the company's board to repurchase stock and think about selling a minority stake in the payments processor Evertec.

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Today In Payments: Puerto Rico Falls Prey To $4M Online Fraud; India’s Antitrust Investigation Into Amazon, Flipkart On Hold

PYMNTS

In today’s top news, at least four Puerto Rico government agencies were targeted in a $4 million online scam, and India’s court hit pause on their antitrust investigation into Amazon and Flipkart. Puerto Rico Falls Prey To $4M Online Fraud.

Popular in Puerto Rico urged by activist investor to sell

American Banker

Regional banks M&A Growth strategies Capital Puerto RicoRaging Capital Management also urged the company's board to repurchase stock and think about selling a minority stake in the payments processor Evertec.

Virus delays First BanCorp’s acquisition of Santander’s Puerto Rico unit

American Banker

Santander M&A Coronavirus Puerto RicoThe deal was expected to close this summer, but First BanCorp said a regulatory review is hitting snags.

Tech Center: Microsoft In Montreal, Puerto Rico’s Entrepreneurism

PYMNTS

In this week’s Tech Center tracker, we round up the latest tech news happening around the globe, including Microsoft’s expansion of its artificial intelligence (AI) footprint in Montreal, how Puerto Rico is taking on tech innovation and Indianapolis’ efforts to lure tech talent. The New Puerto Rico. In an effort to revitalize its economy, Puerto Rico is working to foster tech innovation and entrepreneurialism within the country.

Off The Continent And Into Puerto Rico For Online SMB Lending

PYMNTS

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. The company has said that it is the first bank in Puerto Rico to offer digital services, ranging from business credit cards to working capital loans to SBA loans. For small businesses, expansion is key, and expansion needs capital.

Why Cash Is King In Puerto Rico

PYMNTS

Cash is king—and that is particularly true when it comes to helping victims of Hurricane Maria in Puerto Rico. Meanwhile, the Center for International Disaster Information provided 55 ways people can turn their goods into cash to send to Puerto Rico, including hosting a garage sale. There’s also United for Puerto Rico, a new relief effort created by the First Lady of Puerto Rico, Beatriz Rossello.

Cash may reign for weeks in storm-ravaged Puerto Rico

Payments Source

Cash Puerto RicoIn post-hurricane San Juan on Monday, commerce picked up ever so slightly. With a little effort, you could get the basics and sometimes more: diapers, medicine, or even a gourmet hamburger smothered in fried onions and gorgonzola cheese. But almost impossible to find was a place that accepted credit cards.

How to make Puerto Rico your new crypto home

Perficient Data & Analytics

Is Puerto Rico a haven for crypto-currency? Identifying the steps to becoming a bona fide resident of Puerto Rico as an individual and/or a company is a multi-step but well-documented process. What is a Bona Fide Resident of Puerto Rico? Just to be completely clear, Puerto Ricans are United States citizens. If you have a business in Puerto Rico providing services in Puerto Rico, you can exclude that income from federal taxes.

Puerto Rico’s Debt Crisis and Credit Unions

New York's State of Mind

The impact that Puerto Rico’s decision to renege on paying a $58 million debt payment has a unique impact on credit unions that service the Island Commonwealth. There are approximately 116 credit unions on the Island of Puerto Rico. Crucially, Puerto Rico has its own cooperative share insurance system, meaning that the hit suffered by […].

Banco Popular de Puerto Rico strives to make banking easier for customers

ATM Marketplace

Like many banks, Banco Popular has discovered the need for an agile structure that allows the institution to serve customers who are comfortable with technology, but who also want a wide range of options for banking

First Bancorp in Puerto Rico Sells Insurance Business

American Banker

First Bancorp in San Juan, Puerto Rico, has sold an insurance agency. community-banking pr breaking_news dealmaking-strategy

N.Y. Firm Appoints Director for First Bancorp in Puerto Rico

American Banker

First Bancorp in San Juan, Puerto Rico, has added a managing director from a New York private equity firm to its board. breaking_news people corporate-governance pr community-banking

PR Gov’t Loses $2.6M Due To Email Phishing

PYMNTS

The government of Puerto Rico lost $2.6 The department has faced strong criticism from the people of Puerto Rico about the incident, as the country has been dealing with a recession for more than a decade, and some government services have been cut as a result. “I

Fizzle Of The Week: Puerto Rico’s Cash Crisis

PYMNTS

Fizzle of the Week: Puerto Rico’s Cash Crisis. The troubles in Puerto Rico are almost too numerous to list: lack of fresh water, lack of food, lack of ability to communicate with the outside world and everyone’s least favorite lack of — power. Not only are the lights out in Puerto Rico, they are likely going to be out for quite some time. Puerto Rico is short on cash. Sizzle.

Popular in Puerto Rico Posts Lower Profit on Loss-Share Ruling

American Banker

in San Juan, Puerto Rico, said its quarterly profit fell after losing an arbitration dispute with the Federal Deposit Insurance Corp. Popular Inc. earnings-community-banks performance fdic pr national-regional

Popular in Puerto Rico to Record $115M Charge Tied to FDIC Dispute

American Banker

in San Juan, Puerto Rico, will absorb another hit to its earnings tied to a dispute with the Federal Deposit Insurance Corp. Popular Inc. breaking_news national-regional law-regulation enforcement dealmaking-strategy

Popular in Puerto Rico to Record $55M Loss After FDIC Dispute

American Banker

in San Juan, Puerto Rico, will take a $55 million hit to third-quarter earnings after its bank lost an arbitration battle with the Federal Deposit Insurance Corp. Popular Inc. breaking_news community-banking dealmaking-strategy fdic pr consolidation m-a law-regulation

Two weeks after Maria, Puerto Ricans struggle to move money

Payments Source

The desperation in Puerto Rico for life's essentials — food, gas, water and electricity — in the wake of Hurricane Maria illustrates the need for payments providers to move as quickly as possible to get the U.S. Payment processing Payment cards Digital payments Mobile payments Mobile point-of-sale Puerto Rico

CIT Sells Wealth Advisory Arm to First Sun Capital

Banking Exchange

Plus: FirstBank Puerto Rico completes Santander purchase, and Farmers and Merchants Bank is approved for community bank merger Management Feature Feature3 M&A.

Can Politicians Give The Global Sharing Economy A Boost?

PYMNTS

Puerto Rico is still trying to recover from 2017’s Hurricane Maria, and much of that effort involves getting more tourists to visit the island. According to CaribbeanBusiness.com , Puerto Rico Gov. The sharing economy remains a work in progress, and as the new law in Puerto Rico shows, authories have a keen interest in its development. Regulation Editors' Picks News puerto rico regulation rentals Scooters sharing economy Tourism

Samsung Pay launches in Puerto Rico

The Paypers

(The Paypers) Samsung has revealed plans to bring Samsung Pay to Puerto Rico

Today in Data: AmEx’s $96M Discriminatory Payout

PYMNTS

This week, the Consumer Financial Protection Bureau (CFPB) announced that it is planning to go after two American Express banking subsidiaries for offering consumers in Puerto Rico, the U.S. 2013 | Year American Express self-reported the differences it provided for Puerto Rico and U.S. Today In Data American Express AmEx Amex Card CFPB Consumer Financial Protection Bureau credit cards discrimination News puerto rico Today in Data Virgin Islands

How to make a small island a big centre for FinTech

Chris Skinner

They range from islands like Belize and Puerto Rico to Mauritius and Barbados to Bahrain and Singapore. One of the discussions at the UN meetings was around SIDS, the Small Island Developing States. I didn’t know much about SIDS but, when investigating further, discovered I did. That’s a pretty diverse … The post How to make a small island a big centre for FinTech appeared first on Chris Skinner's blog. Fintech Grid

Morning Scan: BofA's Stress Test Team; Hedge Funds Sue Puerto Rico GDB

American Banker

Wall Street Journal. The paper profiles Andrea Smith, a human resources executive at Bank of America, who was tapped to lead its stress test submission, which is due Tuesday. BofA has fallen short on the test three of the past five years, and the bank has opted this year to employ a manager, not a numbers cruncher, to lead the team working to satisfy the complicated and controversial post-crisis regulation. The Charlotte, N.C., firm was the… morning-scan national-regional

02.06.18 Your morning briefing

Payments Source

Today: A cryptotown in Puerto Rico?; The information you need to start your day, from PaymentsSource and around the Web. Nigel Green launches cryptowallet; Singapore Airlines debuts new loyalty program; Interac reorganizes. Briefing

Amex charged higher rates and fees in U.S. territories, CFPB says

Payments Source

American Express charged higher interest rates and annual fees to cardholders in Puerto Rico, the U.S. Virgin Islands and other U.S. territories than in the U.S., the CFPB said Wednesday. Enforcement actions Credit cards Richard Cordray CFPB American Express

OFG Bancorp Reports Sale of Troubled Puerto Rican Loan Participation

American Banker

OFG Bancorp in San Juan, Puerto Rico, has sold its bank's participation in a line of credit to the Puerto Rico Electric Power Authority, or PREPA. breaking_news dealmaking-strategy community-banking

United Drops Change Fees On Domestic Flights

PYMNTS

Puerto Rico and the U.S. United Airlines said it heard customers’ displeasure and has permanently dropped the $200 fee to change a ticket for travel within the U.S., the company announced in a press release Sunday (Aug 30). That’s not all. Starting Jan.

Delta, American Join United In Eliminating Change Fees In US

PYMNTS

Puerto Rico and the U.S. Delta Air Lines and American Airlines , looking to draw customers back during the pandemic, are dropping change fees for domestic flights, CNBC reported Monday (Aug. The move comes after rival United Airlines did the same thing Sunday (Aug.

Private Equity to Partially Cash Out of First BanCorp in P.R.

American Banker

A pair of First BanCorp's biggest investors will partially liquidate holdings in the San Juan, Puerto Rico, company. breaking_news dealmaking-strategy community-banking

Here Is Some Insight If You Should Open Or Close Branches?

Banker to Banker

When it comes to states, Puerto Rico is underbanked with more than nine thousand people per branch, while Iowa is the most overbanked state at basically one branch for every thousand persons. There are approximately 94.5 thousand branches in the United States, which on a per capita basis, puts us in the middle of the global pack. China and India, of course, are very underbanked by that measuring stick, while Spain and Italy are extremely overbanked.

Damage report: Popular’s running toll of natural disasters

American Banker

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.

Join the Popular Virtual 5K

PopularBank

Popular Bank Invites runners to participate in the Popular Virtual 5K, benefitting Youth Programs in New York, South Florida and Puerto Rico. This year, proceeds will benefit the New York and South Florida chapters of Junior Achievement and the Boys and Girls Club or Puerto Rico. Participants Have Until August 16 th to Complete the Race for a Chance to Win Select Prizes. On your mark. Get set.