Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: June 21, 1999

For immediate release

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.

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.

The Order requires Banco Popular to pay a civil money penalty of $10,000.

A copy of the Order is attached.

Order (180 KB PDF)

1999 Enforcement actions

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Last update: June 21, 1999