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Board of Governors of the Federal Reserve System
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Press Release

Federal Reserve Press Release

Release Date: March 17, 2006

For immediate release

The Federal Reserve Board on Friday announced the issuance of a consent Cease and Desist Order against Doral Financial Corporation, San Juan, Puerto Rico, a registered bank holding company that owns and controls Doral Bank, San Juan, Puerto Rico, a state nonmember bank, and indirectly owns and controls Doral Bank, FSB, New York, New York, a federal savings bank.

In a separate, coordinated action, the Federal Deposit Insurance Corporation contemporaneously issued a consent Cease and Desist Order against Doral Bank, San Juan, Puerto Rico.

A copy of the Board's Cease and Desist Order is attached.

Attachment (534 KB PDF)

 
Last update: March 17, 2006