Puerto Rico Office of the Commissioner of Financial Institutions

Arival Group Announces Bill Papp as New Chief Executive Officer

Retrieved on: 
Friday, September 1, 2023
Banking, Professional Services, Finance, Commissioner, Pacific Crest Securities, Federal Reserve Bank, Tufts University, Private sector, Vice, Mizuho Securities USA, Lehman Brothers, Massachusetts Board of Education, Senior advisor, The Fletcher School at Tufts University, Audit committee, Prudential Securities, Future, Financial institution, KeyBank, Bretton Woods Committee, Michigan State University, Law, Growth, Massachusetts Educational Theater Guild, Puerto Rico Office of the Commissioner of Financial Institutions, Cryptocurrency

Arival Group is pleased to announce that Bill Papp has recently been approved as Chief Executive Officer and Member of the Board of Directors of Arival Bank International Corporation by the Puerto Rico Office of the Commissioner of Financial Institutions (OCIF).

Key Points: 
  • Arival Group is pleased to announce that Bill Papp has recently been approved as Chief Executive Officer and Member of the Board of Directors of Arival Bank International Corporation by the Puerto Rico Office of the Commissioner of Financial Institutions (OCIF).
  • Bill will continue to serve as Chief Revenue Officer for Arival Group.
  • As CEO, Bill will be responsible for leading and scaling Arival’s cutting edge banking services and solutions globally.
  • In addition, Bill's leadership qualities will help Arival to execute on its roadmap of providing digital banking to global businesses", says Javonsher Abdullaev, Chairman of Arival Group.

Personal Care Products Council Releaseas Statement on Proposed FDA Reorganization Statement by Lezlee Westine, President & CEO

Retrieved on: 
Tuesday, February 28, 2023
Safety, Commissioner, Office of the Chief Scientist (Australia), Puerto Rico Office of the Commissioner of Financial Institutions, Personal Care Products Council, Agency, Public, Beauty, FDA, Regulation of tobacco by the U.S. Food and Drug Administration, Cosmetics, Mocra, Multimedia, Food, Medical device

WASHINGTON, Feb. 28, 2023 /PRNewswire/ -- "The Personal Care Products Council (PCPC) is committed to working with the U.S. Food and Drug Administration (FDA) to support its mission to protect consumer health and to understand better how the FDA's proposed reorganization could impact cosmetics and personal care products regulation.

Key Points: 
  • WASHINGTON, Feb. 28, 2023 /PRNewswire/ -- "The Personal Care Products Council (PCPC) is committed to working with the U.S. Food and Drug Administration (FDA) to support its mission to protect consumer health and to understand better how the FDA's proposed reorganization could impact cosmetics and personal care products regulation.
  • "Our industry will work with the FDA as it moves forward with the proposed reorganization , and contribute our expertise to support appropriate cosmetics and personal care products regulation.
  • For more information on cosmetics and personal care products and their ingredients, please visit www.CosmeticsInfo.org .
  • Founded in 1894, the Personal Care Products Council (PCPC) is the voice and advocate for 600 member companies representing the $529.3 billion global cosmetics and personal care products industry.

First Finance International Bank is bringing financial services closer to everyone

Retrieved on: 
Tuesday, June 14, 2022
IFE, Efficiency, Commissioner, International Bank, Research, Neobank, Financial institution, Compliance, Puerto Rico Office of the Commissioner of Financial Institutions, SAN, Financial services

FFIBI, one of the leading neo-banks from Puerto Rico, has always challenged the long-established banking ecosystem.

Key Points: 
  • FFIBI, one of the leading neo-banks from Puerto Rico, has always challenged the long-established banking ecosystem.
  • With its inventive approach, use of the latest cutting-edge technology, and unconventional vision, this new release puts FFIBI lightyears ahead of traditional banks.
  • About First Finance International Bank Inc.:
    FFIBI is one of the first NeoBank registered inPuerto Ricooffering digital-only banking services worldwide.
  • FFIBI was licensed onMay 16, 2017, as an International Financial Entity (IFE) with the Puerto Rico Office of the Commissioner of Financial Institutions.

NextPlay Technologies Selected by DIG to Offer Fiat Payment and Banking Services for its Blockchain-Powered NFT Game, Realms of Ethernity

Retrieved on: 
Tuesday, April 5, 2022
Company, Negotiation, CAGR, Exercise, LinkedIn, Puerto Rico Office of the Commissioner of Financial Institutions, IFE, Blockchain, Investment, Forward-looking statement, Adtech (company), DIG, Growth, Internet, Advertising, XYZZY, SEC, Commonwealth, Securities Exchange Act of 1934, Fiat, CEO, NextCard, Private Securities Litigation Reform Act, NFT, Artificial intelligence, Industry, Technology, Travel, Fortress Investment Group, Twitter, SUNRISE, Ecosystem, Roe, MMORPG, Securities Act of 1933, World of Warcraft, Nasdaq, COVID-19, GLOBE, ALR, Financial institution, News, Commissioner, Uncertainty, Annual report, Cryptocurrency, Video game, Bank, Realm, Financial technology

This would initially include in-game assets from Realms of Ethernity (RoE), the worlds first MMORPG (massively multiplayer online role-playing games) game.

Key Points: 
  • This would initially include in-game assets from Realms of Ethernity (RoE), the worlds first MMORPG (massively multiplayer online role-playing games) game.
  • The payment platform would allow customers to purchase and sell in-game assets using fiat currencies.
  • NextBank would also offer bank accounts to DIG customers for their fiat deposits, subject to the customer passing NextBank compliance verification.
  • NextBank plans to issue payment cards to DIG customers who have funded their bank accounts at NextBank.

FV Bank Launches API to Enable Fintech and Blockchain Businesses to Seamlessly Integrate Banking Automation

Retrieved on: 
Friday, February 25, 2022
GLOBE, Veteran, Compliance, Growth, International, Puerto Rico Office of the Commissioner of Financial Institutions, AML, Commissioner, Banking as a service, KYB, Science and technology in Asia, Bank, Mobile backend as a service, API, KYC, ACH, Financial institution, FV, Solution, CEO, Cryptocurrency, Financial technology

FV Banks new API will provide multiple benefits to corporate and institutional clients who need to integrate compliant banking solutions into its products.

Key Points: 
  • FV Banks new API will provide multiple benefits to corporate and institutional clients who need to integrate compliant banking solutions into its products.
  • We founded FV Bank, to foster growth between banks and fintech creators, said Miles Paschini, co-founder and CEO FV Bank.
  • With our API FV Bank clients can create compliant banking experiences directly with a bank partner instead of using an intermediary Bank as a Service (BaaS) provider.
  • FV Banks API will also enable clients to integrate banking solutions into their own fintech and blockchain applications enabling USD Bank Account functionality to their customers.

FV Bank Becomes Principal Member of Visa. Set to Launch Cryptocurrency Linked Visa Card Programs

Retrieved on: 
Friday, October 29, 2021
Visa Inc., Series, Veteran, Commerce, Puerto Rico Office of the Commissioner of Financial Institutions, LinkedIn, Financial institution, Partnership, FV, NYSE, Information International, Inc., Commissioner, Blockchain, Principal, CEO, Growth, GLOBE, Ficosa, Cryptocurrency, Payment card

The new Visa debit card will complement its suite of services and is planned to be available to FV bank business and individual account holders by the end of 2021 on a waitlist basis.

Key Points: 
  • The new Visa debit card will complement its suite of services and is planned to be available to FV bank business and individual account holders by the end of 2021 on a waitlist basis.
  • Whereas all existing crypto-linked card programs are on an individual basis only, FV Banks Visa card will give its businesses account holders the option to obtain cards for multiple authorised employees all drawn from one business account.
  • FV bank plans to introduce credit card versions in early 2022 which will enable users to leverage digital assets as collateral for credit lines which will be accessible via the FV Bank Visa card.
  • We are pleased to welcome FV Bank as Principal Member license and are thrilled about the fact that they will habilitate Cryptocurrency linked to Visa Card Programs, said Luis Guerra, Country Manager Visa Puerto Rico.

i2c and Bancrédito Partner in Launch of American Express Black Card for Puerto Rico

Retrieved on: 
Wednesday, October 6, 2021
Banking, Professional Services, Finance, Software as a service, Partnership, Commissioner, Solution, International Bank, LAC, American Express, Financial institution, Silicon, IVR, Technology, Commonwealth, Organization, Investment, Puerto Rico Office of the Commissioner of Financial Institutions, Industry, Centurion Card, EVP, Travel, Cryptocurrency, Financial services, Bancrédito, i2c Inc., BANCRéDITO, I2C INC.

i2c , a leading provider of digital payment and banking technology, has partnered with Puerto Ricos Bancrdito International Bank & Trust Corporation (Bancrdito) to power its new American Express Black Card in Puerto Rico.

Key Points: 
  • i2c , a leading provider of digital payment and banking technology, has partnered with Puerto Ricos Bancrdito International Bank & Trust Corporation (Bancrdito) to power its new American Express Black Card in Puerto Rico.
  • The American Express Black Card is one of the most exclusive credit cards on the market for premium clients seeking experiences focused on lifestyle and travel.
  • The Bancrdito Black American Express Card includes contactless technology for purchases, a metal presentation, curated benefits, travel memberships, a loyalty program and more.
  • Financial institutions and fintechs benefit from the brand recognition of American Express and the flexibility of the i2c platform to quickly launch highly-differentiated products.

SEC Charges Puerto Rican Company and Managing Members with Fraud

Retrieved on: 
Tuesday, September 21, 2021
United States district court, Commissioner, Security (finance), Asset-backed security, U.S. Securities and Exchange Commission, District court, Mining, Financial institution, Associate, Puerto Rico Office of the Commissioner of Financial Institutions, Gold, Commission, District, SEC

According to the SEC's complaint, the offering, which was not registered with the Commission, was part of a fraudulent scheme that raised approximately $2.7 million.

Key Points: 
  • According to the SEC's complaint, the offering, which was not registered with the Commission, was part of a fraudulent scheme that raised approximately $2.7 million.
  • Subsequent to the provision of these materials, Portalatin allegedly signed contracts with investors when he knew that they had been misled.
  • The SEC seeks permanent injunctions, disgorgement of allegedly ill-gotten gains plus interest, and civil penalties against Back to Green, Jimnez, and Portalatin.
  • The SEC appreciates the assistance of Puerto Rico's Office of the Commissioner of Financial Institutions.

FV Bank Secures $8 million Series A Investment

Retrieved on: 
Monday, August 30, 2021
Puerto Rico Office of the Commissioner of Financial Institutions, FV, Commissioner, Growth, GLOBE, Series, Information International, Inc., Blockchain, Financial institution, B2B, MPC, CEO, Veteran, Cryptocurrency, Financial services

San Juan, Puerto Rico, Aug. 30, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire ) FV Bank ( www.fvbank.us ), the rapidly growing dual licensed challenger bank and digital asset custodian, has announced the successful closing of its Series A funding round worth $8 million.

Key Points: 
  • San Juan, Puerto Rico, Aug. 30, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire ) FV Bank ( www.fvbank.us ), the rapidly growing dual licensed challenger bank and digital asset custodian, has announced the successful closing of its Series A funding round worth $8 million.
  • The fundraise, led by BnkToTheFuture, Decentralized Ventures, NFG Fund, CCIX Global, Zenrain Technology, and Satvat, raises FV Banks post money valuation to $48.9 million.
  • The newly injected capital will enable FV Bank to launch its digital asset custody division, develop its debit card offering, and accelerate its international expansion.
  • FV Bank is redefining international digital banking by seamlessly integrating traditional banking services with digital asset management.