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prima:Another international financial institution at risk

IUBank has 12 days to file a voluntary liquidation plan with the OCIF after two unsuccessful attempts to raise additional capital

August 20, 2024 - 2:05 PM

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This content was published more than 3 months ago.
IUBank has until the end of this month to submit a voluntary plan on how it will liquidate its 1,547 depositors. (Shutterstock)

The Office of the Commissioner of Financial Institutions (OCIF) sent a letter to International Union Bank, LLC (IUBank) on Monday granting a 12-day deadline for the entity’s directors to present a voluntary liquidation plan, which would imply the cessation of its operation in Puerto Rico, the regulator confirmed to El Nuevo Día.

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