Government Development Bank for Puerto Rico

GAO says Congress should consider giving SEC penalty authority over issuers, stripping Puerto Rico's triple-tax exemption,and expanding investor protection.

Puerto Rico would have to have a vibrant economy and a stable government that is fiscally sound, said Rep. Rob Bishop.

Matosantos' ownership of renewable energy businesses on the island is said to conflict with responsibility overseeing PREPA.

The vote came as Gov. Rossello said his fiscal plan will not accede to board demands.

Rosselló says that Rep. Rob Bishop is placing the needs of the bondholders over those of Puerto Rico residents.

Natural Resources Committee Chairman Rob Bishop complained that "intentional misinterpretations" of the "PROMESA" law may mean U.S. promises to Puerto Rico will take "decades" to fulfill.

A deal in August would have allowed debt holders to get up to 75% of par value.

The latest proposed fiscal plan may allow up to 29.4% of debt to be paid through fiscal year 2023.

The credit unions say that Puerto Rico used fraud and pressure to get them to buy the government bonds.

Officials said forgiveness of the Community Disaaster Loan could be considered at a later point.

Information can be submitted on a confidential or non-confidential basis.

January's General Fund revenues were 12.2 percent below pre-Hurricane Maria projections.

Treasury Secretary Steven Mnuchin says it remains to be decided whether the federal loan will be forgiven

Judge Laura Swain says she has no authority to challenge fiscal plans.

Puerto Rico’s economy in December was 13.3% less active than it had been in August, a report said.

The post-hurricane fiscal plan assumes that Puerto Rico will get a substantial amount of federal aid, but doesn’t include it in its calculation of available resources.

"We've been playing games with the revenue estimates for decades," a former Treasury secretary tells the Oversight Board.

Investors concerned over the level of impairment to their Puerto Rico bonds may get some clarity on the commonwealth's cash balance at an Oversight Board hearing.

A group of economists including Joseph Stiglitz would cut the face value of Puerto Rico bonds by 80% or more.

Moody's said the delay may signal the damage to the island's economic prospects is worse than officials thought, suggesting the return for bondholders will be even lower.