Company: BPOPM
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001193125-25-043848
Chunk: 65

Company: POPULAR, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 5
Chunk 65
---
 the regulatory framework governing
overdraft 
practices applicable
to banks
such as
BPPR and
PB that
have more
than $10
billion in
assets. The
rule has
an effective
date of 
October
1,
2025.
The
rule
modifies
or
eliminates
several
long-standing
exclusions
from
requirements
generally
applicable
to 
consumer credit
that previously
exempted certain
overdraft practices.
The rule
also generally
requires banks
to restructure
many 
overdraft fees, overdraft lines of credit, and other overdraft practices as separate
consumer credit accounts that would be subject to 
those requirements.
These changes
to the
regulatory framework
could result
in BPPR
and PB,
among other
things, facing
higher 
compliance costs in charging overdraft
fees, experiencing a decreased ability
to recover amounts extended as
overdraft protection, 
reducing the availability of overdraft protection,
and/or charging lower overdraft fees. 
Office of Foreign Assets Control Regulation
The
U.S.
Treasury
Department
Office
of
Foreign
Assets
Control
(“OFAC”)
administers
economic
sanctions
that
affect 
transactions
with
designated
foreign
countries,
nationals
and
others.
The
OFAC-administered
sanctions
targeting
countries
take 
many
different
forms.
Generally,
however,
they
contain
one
or
more
of
the
following
elements:
(i)
restrictions
on
trade
with
or 
investment in a sanctioned country; and (ii) a blocking
of assets in which the government of the
sanctioned country or other specially 
designated nationals have an interest, by prohibiting
transfers of property subject to U.S. jurisdiction (including
property in the United 
States or the possession or control of U.S.
persons outside of the United States). Blocked assets (e.g., property
and bank deposits) 
cannot
be
paid
out,
withdrawn, set
off
or
transferred
in
any
manner without
a
license
from
OFAC.
Failure
to
comply
with these 
sanctions
could
have
serious
legal
and
reputational
consequences,
including
denial
by