Fed Takes Action Against Ex-Banco Popular Employee

The Federal Reserve Board announced on Thursday that it has executed an enforcement action against Gadiel Rosario-Alvarado, a former employee of Banco Popular de Puerto Rico in San Juan, Puerto Rico.

Rosario-Alvarado was found to have misappropriated customer funds, prompting the Fed's action. The details of the case were not specified further by the Fed, but it has become clear that the individual will be subject to a consent prohibition order as a result.