Financial Crime World

Puerto Rico Financial Institutions Face Complex Regulatory Challenges: Ferraiuoli Expertise Sought After

Financial institutions operating in Puerto Rico are confronted with a complex web of federal and local laws and regulations, requiring specialized knowledge and expertise to navigate. For companies looking to establish or expand their operations on the island, finding a trusted advisor is crucial.

Ferraiuoli’s Banking and Financial Services Regulation Practice: A Trusted Advisor

Ferraiuoli’s Banking and Financial Services Regulation practice provides top-notch guidance for financial institutions, from large multinational corporations to small local banks, navigating the intricacies of Puerto Rico’s regulatory landscape. With extensive experience in this area, Ferraiuoli has established itself as a go-to advisor for the financial services industry.

Areas of Expertise

  • Regulatory Guidance: Ferraiuoli assists clients in interpreting and implementing new federal and state laws and regulations, offering expertise in areas such as:
    • Consumer and commercial finance, including deposits, residential and commercial mortgages, auto financing and leasing, lines of credit, e-commerce, and online banking issues
    • Community Reinvestment Act compliance, fair lending, and truth-in-lending matters
    • Securitizations and federal preemption questions
  • Transaction and Contract Structuring: Ferraiuoli represents financial institutions in structuring and negotiating contracts and transactions involving financial products and services, as well as obtaining necessary regulatory approvals for underlying business arrangements.
  • Reporting Requirements and Regulatory Representation: The firm advises on applicable reporting requirements and represents clients before local and federal regulators.

Additional Expertise

  • Privacy and Security Issues: Ferraiuoli provides counsel to banks, insurance companies, and other financial institutions on privacy and security issues, including compliance with:
    • Gramm-Leach-Bliley Act
    • Fair Credit Reporting Act
    • Electronic Communications Act
    • CAN-SPAM Act

Representative Matters and Transactions

  • Representing a financial institution in the acquisition of residential mortgage servicing rights
  • Structuring an advisory board for a local financial institution
  • Preparing memoranda on Check 21 and substitute checks
  • Providing opinions on reporting requirements and CRA qualified investments, and more

Conclusion

In today’s complex regulatory environment, companies operating in Puerto Rico’s financial sector require a trusted advisor with deep knowledge and expertise. Ferraiuoli’s Banking and Financial Services Regulation practice is well-positioned to provide the guidance and support necessary for success.