Puerto Rico

House Financial Services Committee members unanimously approved a bill on Thursday that would put an end to a current legal loophole that a lawmaker contends allowed broker-dealers to defraud Puerto Rico investors.

Puerto Rico set up a registry of investors to foster two-way communication with all of its bondholders, making it easier for them to take “collective actions,” which may include debt restructuring votes.

National Public Finance Guarantee sued Puerto Rico Wednesday to overturn the commonwealth's debt moratorium law.

Senate Majority Leader Mitch McConnell, R-Ky., told reporters on Tuesday afternoon that the Senate will consider the House bill designed to help Puerto Rico before July 1.

Puerto Rico's Senate passed a bill to help the Puerto Rico Aqueduct and Sewer Authority sell bonds, following passage by the Puerto Rico House of Representatives.

The Securities and Exchange Commission is "very focused" on examining whether there were any securities law violations involving Puerto Rico bonds as the commonwealth's fiscal situation deteriorated over the last few years, SEC chair Mary Jo White told the Senate Banking Committee on Tuesday.

Puerto Rico’s legislature may be poised to pass a bill to help the Puerto Rico Aqueduct and Sewer Authority sell as much as $900 million of bonds.

Political opposition to a federal control board in Puerto Rico may make its operations difficult.

The Supreme Court on Monday issued an opinion affirming that a local Puerto Rico debt restructuring law is unconstitutional, leaving congressional action on a House bill as the most viable option left for the struggling commonwealth to deal with its debt crisis.

The full Senate is expected to take up the Puerto Rico bill passed by the House and vote on it before the end of the month or in early July.

A House bill designed to help Puerto Rico will now move to the Senate after House members passed the bill 297 to 127 during a session that stretched into early Thursday evening.

In a decision on Thursday the U.S. Supreme Court ruled that Puerto Rico enjoys most types of sovereignty but not a type relevant to the criminal case at hand.

The full House is expected to vote today on a bill designed to help Puerto Rico after the House Rules Committee set the table for the bill's consideration during a lengthy hearing that stretched into Wednesday night.

Puerto Rico chief financial officer Melba Acosta Febo said Puerto Rico may pay some, but probably not all, of the commonwealth’s general obligation bond debt due July 1.

Observers of Puerto Rico politics say that Ricardo Rosselló Nevares’ win in Sunday’s gubernatorial primary was a victory for a more aggressive pursuit of statehood.

Puerto Rico’s main employee retirement system slipped to a 0.27% funded ratio in the most recent audited statement and has since fallen into a deficit, according to its auditor.

Presidential candidate and Sen. Bernie Sanders, I-Vt., has vowed to introduce an alternative bill to one pending before the House that CBO says would cost the territory $370 million over ten years.

A government-appointed commission is suggesting that much of Puerto Rico’s debt may have been sold illegally.

Sources confirmed that Puerto Rico was paying at least $41.2 million of $99.5 million due on Wednesday.

Candidates to become Puerto Rico’s next governor advocate solutions ranging from a local debt authority, to statehood, to a moratorium on principal payments.