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Article: First BanCorp Announces Termination of Order to Cease and Desist by the Federal Reserve Bank of New York.
- Article from:
- PR Newswire
- Article date:
- June 30, 2008
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Copyright informationCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN JUAN, Puerto Rico, June 30 /PRNewswire-FirstCall/ -- First BanCorp today announced that, following the most recent examination of First BanCorp (the "Corporation"), the Federal Reserve Bank of New York ("FED"), under the delegated authority of the Board of Governors of the Federal Reserve System, has elected to terminate the Order to Cease and Desist dated March 16, 2006, relating to the mortgage-related transactions with other financial institutions.
"The termination of the Order to Cease and Desist is a testament to the Corporation's commitment to take proactive measures to resolve all regulatory matters. This was the last remaining regulatory action imposed on ...
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