In The News

After evicting hundreds of thousands of families from their homes during the recession, Wall Street is now chasing debtors onto the curb they got kicked to by going after their cars instead, accord

The U.S. bank workers have three demands. The first is greater wages and greater share of the profits, and the second is stable, full-time jobs.

Outlets of Santander Bank, already under fire for lending practices, denied mortgages to women, minorities and low-income borrowers in the U.S.

Local activists gathered outside Santander’s State Street bank branch in downtown Boston last week to decry the company’s role in Puerto Rico’s debt crisis. During the demonstration, organized by Massachusetts Jobs with Justice, protestors charged that executives from Santander — a Boston-based bank with a significant dealings in Puerto Rico —not only profiteered off the island’s financial turmoil, but also used government positions to push policies that exacerbated it.

Activists are calling for the resignation of two members of Puerto Rico’s fiscal control board over the roles they previously played in boosting bank profits at the expense of the island’s financial health.

The control board, which has veto power over major Puerto Rican budget decisions, was created by Congress in June as the island foundered under $70 billion in public debt. 

File this one under “Only in Puerto Rico.” A new report called “Pirates of the Caribbean” that was published Thursday by Hedge Clippers and the Committee for Better Banks is accusing two current members of Puerto Rico’s fiscal control board of helping to generate and profit from the island’s massive debt crisis.

Released by Hedge Clippers, the report reveals how two top appointees to the federal board overseeing Puerto Rico’s financial restructuring actually helped create the Puerto Rico debt crisis they are now in charge of fixing. The two appointees are former Santander Bank executives José Ramón González and Carlos M. García.

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