Company: BPOPM
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001193125-25-043848
Chunk: 53

Company: POPULAR, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1A
Chunk 53
---
or exceeding
that threshold,
or if
Popular’s assets
do exceed
that threshold,
a need
for Popular
to increase
its regulatory
capital, 
issue
substantial
amounts
of
long-term
debt
or
incur
other
significant
expenses
in
order
to
satisfy
applicable
regulatory 
requirements. 
Our participation
(or lack
of participation)
in certain
governmental programs,
such as
the Paycheck
Protection Program 
(“PPP”) enacted
in response
to the
COVID-19 pandemic,
also exposes
us to
increased legal
and regulatory
risks. We
have also 
been and could continue to
be exposed to adverse
action for the violation of
applicable legal requirements or the improper
conduct 
of our employees in connection with such loans. For example, on January 24, 2023, Popular Bank consented to the imposition of an 
order from
the Federal
Reserve Board
requiring it
to
pay a
$2.3 million
civil money
penalty to
settle certain
findings arising
from 
Popular Bank’s approval of six Payment Protection Program
loans.
We
are from
time to
time subject
to information
requests, investigations
and other
regulatory enforcement
proceedings 
from departments and agencies of the U.S. and
Puerto Rico governments, including those that investigate
compliance with 
U.S. sanctions and consumer protection laws and regulations, which may
expose us to significant penalties and collateral 
consequences, and could result in higher compliance
costs or restrictions on our operations. 
We
from
time-to-time
self-report
compliance
matters
to,
or
receive
requests
for
information
from,
departments
and 
agencies
of
the
U.S.
and
Puerto
Rico
governments,
including
with
respect
to
compliance
with
consumer
protection
laws
and 
regulations.
For
example,
BPPR
has
in
the
past
received
requests
for
information,
such
as
subpoenas
and
civil
investigative 
demands
from
U.S.
government
regulators,
including
concerning
add-ons
on
consumer
products,
real
estate
appraisals