Puerto Rico

U.S. Court of Federal Claims Chief Judge Susan Braden carved a legal path for holding the federal government liable for cuts to Puerto Rico bonds.

The judge dismissed Aurelius' argument that the U.S. Constitution had prohibited the means used to appoint the oversight board members.

Chicago's 2017 CAFR offers deep dive into Chicago's fiscal gains and deeper strains.

Governor is setting up the appointment of a new executive director at a salary lower than one announced Wednesday.

The action follows a resignation by the PREPA executive director and pressure from the governor.

The board has claimed its policies must be followed to make money available for bond payments.

Walter Higgins plans to submit his resignation because an unexpected family incident will keep him out of Puerto Rico, the governor said.

Bondholders have long complained about the local government's lack of timely and accurate financial information.

The Financial Industry Regulatory Authority has already barred Jose Ramirez from the securities industry, his lawyer said.

Municipal bond activity returns to a near-normal level as a slew of deals heads into the market, led by New York and California issuers.