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Wednesday, July 27, 2016

Puerto Rico News Digest For July 27, 2016


From The San Juan Daily Star:

"Various Puerto Rico diaspora organizations in the greater Philadelphia area
protested outside the Democratic National Convention on Monday against the
Puerto Rico Oversight, Management and Economic Stability Act (PROMESA)
and the establishment of a federal fiscal control board. “The Puerto Rico com-
munity must be heard; the Democrats should know our demands since both De-
mocrats and Republicans have been party to the crimes of the United States ag-
ainst Puerto Rico,” said Berta Joubert, the spokeswoman for the Philadelphia-
Camden Boricua Committee, according to Inter News Service..."


From US Attorney's Office:

" U.S. Attorney for the District of Puerto Rico Rosa Emilia Rodríguez-Vél-
ez announced three indictments and the arrest of 44 defendants charged with
conspiracy to possess with intent to distribute, and distribution of controlled
substances, and possession of firearms. The agencies in charge of the investi-
gation are Homeland Security Investigations (HSI) and the Police of Puerto
Rico (POPR). One of the indictments, returned on July 19, 2016, by a federal
grand jury and unsealed in federal court today, charges 40 individuals with co-
nspiracy to knowingly and intentionally possess with intent to distribute coca-
ine, cocaine base (crack), marijuana, Percocet and Xanax, all within 1,000 feet
of the real property comprising the Columbus Landing Public Housing Project,
all for significant financial gain and profit..."


From Caribbean Business:

"The House has appointed Sen. Orrin Hatch (R-Utah) to serve as the chair-
man of a bicameral task force charged under the Puerto Rico Oversight, Ma-
nagement and Economic Stability Act (Promesa) with investigating the cau-
ses and possible solutions to Puerto Rico’s debt crisis. The House approved
Hatch’s appointment in a pro forma session Monday afternoon. That session
also formalized the appointments of Reps. Sean Duffy (R-Wis.) and Tom Mac
Arthur (R-N.J.) as the House Republican appointees to the task force. Rep. Ny-
dia Velázquez of New York and Pedro Pierluisi, Puerto Rico’s non-voting rep-
resentative in Congress, are the two House Democratic appointees. In addition
to Hatch, who is chairman of the Senate Finance Committee, Sens. Marco Ru-
bio (R-Fla.), Robert Menendez (D-N.J.) and Bill Nelson (D-Fla.) are members
of the task force..."


From News Is My Business:

"Popular Inc., parent company of Banco Popular, on Tuesday reported net in-
come of $89 million for the quarter ended June 30, 2016, compared to net in-
come of $85 million for the quarter ended March 31,  2016. “We are pleased
to report another solid quarter with strong net income, revenue and credit me-
trics. Also our U.S. operation delivered significant loan growth while mainta-
ining strong credit quality. We are hopeful that recent legislative actions by the
U.S. Congress will be a catalyst in revitalizing Puerto Rico’s economy,” Car-
rión said..."

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