Banco Popular de Puerto Rico; The petition sought a declaratory statement from the Office on whether Petitioner's proposed business activities (to expand their geographic footprint of its current credit card business to offer consumer credit cards ...

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by Banco Popular de Puerto Rico on January 6, 2016. The following is a summary of the agency’s disposition of the petition:

The petition sought a declaratory statement from the Office on whether Petitioner’s proposed business activities (to expand their geographic footprint of its current credit card business to offer consumer credit cards in the domestic U.S.) requires any licensing or filing with the OFR. A Final Order was issued March 31, 2016. Petitioner may proceed with its proposed course of action as recited in its Petition without obtaining a license from the Office as may otherwise be required pursuant to Chapters 516 and 663, Florida Statutes.

A copy of the Order Disposing of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone] or [e-mail].