Puerto Rico Banking Regulation Lawsuit Filed Against OCIF and Commissioner Zequeira Diaz

A lawsuit has been filed against the Office of the Commissioner of Financial Institutions of Puerto Rico (OCIF) and its Commissioner, Natalia I. Zequeira Diaz, by Tomás Niembro Concha, former President of Nodus International Bank.

Background

The suit was brought in response to alleged improper and discriminatory conduct by OCIF in the regulation of international banks operating in Puerto Rico, including discrimination based on national origin.

Lawsuit Details

The lawsuit, Niembro Concha v. Zequeira Diaz, No. 3:24-cv-01232 (D.P.R. May 24, 2024), is currently pending before the court. The suit seeks redress for the alleged wrongdoing and aims to hold OCIF accountable for its actions.

Firm Background

Rivero Mestre, a Miami and New York-based law firm, specializes in complex business disputes and has extensive experience representing clients in financial institution matters, antitrust cases, intellectual property disputes, and Latin American trade and investment litigation. The firm’s expertise in these areas has earned it recognition as a leading practice in the region.

Key Points

• OCIF allegedly engaged in improper and discriminatory conduct in the regulation of international banks operating in Puerto Rico
• Discrimination was based on national origin
• Lawsuit seeks redress for alleged wrongdoing and aims to hold OCIF accountable for its actions
• Rivero Mestre, a Miami and New York-based law firm, specializes in complex business disputes and has extensive experience representing clients in financial institution matters

About the Firm

For more information about Rivero Mestre, visit www.riveromestre.com.