Money Laundering in Puerto Rico: Hearing Before the Permanent Subcommittee on Investigations of the Committee on Governmental Affairs, United States Senate, Ninety-ninth Congress, First Session, July 25, 1985 |
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... Mier , president , Puerto Rico Savings and Loan Association and president , First Federal Savings Bank 6 39 64 109 126 ALPHABETICAL LIST OF WITNESSES 39 *** 3 4 9 23 64 109 126 139 126 156 Blau , Charles : Testimony Prepared statement ...
... Mier , president , Puerto Rico Savings and Loan Association and president , First Federal Savings Bank 6 39 64 109 126 ALPHABETICAL LIST OF WITNESSES 39 *** 3 4 9 23 64 109 126 139 126 156 Blau , Charles : Testimony Prepared statement ...
Page 126
... Mier , please . Please raise your right hand . Do you swear the testimony you will give before this subcommit- tee will be the truth , the whole truth and nothing but the truth , so help you God ? Mr. LEDESMA . I do . Mr. MIER . I do ...
... Mier , please . Please raise your right hand . Do you swear the testimony you will give before this subcommit- tee will be the truth , the whole truth and nothing but the truth , so help you God ? Mr. LEDESMA . I do . Mr. MIER . I do ...
Page 131
... Mier , I want to thank you , too , and invite you now to proceed with whatever remarks you care to make . Mr. MIER . Thank you , Mr. Chairman . My name is Mariano Mier . I am president and chief executive officer of First Federal ...
... Mier , I want to thank you , too , and invite you now to proceed with whatever remarks you care to make . Mr. MIER . Thank you , Mr. Chairman . My name is Mariano Mier . I am president and chief executive officer of First Federal ...
Page 135
... MIER . I think the message is coming very clearly across . Mr. LEDESMA . May I disagree a little bit ? Chairman ROTH . Šure . Mr. LEDESMA . I think it is a matter of awareness . What was done in Puerto Rico has obviously created ...
... MIER . I think the message is coming very clearly across . Mr. LEDESMA . May I disagree a little bit ? Chairman ROTH . Šure . Mr. LEDESMA . I think it is a matter of awareness . What was done in Puerto Rico has obviously created ...
Page 136
... Mier in general terms . The message has gotten across , but there would be less painful and damaging ways to do it on an ongoing basis , and we offer our wholehearted support to continue that involvement , to work with you as long as we ...
... Mier in general terms . The message has gotten across , but there would be less painful and damaging ways to do it on an ongoing basis , and we offer our wholehearted support to continue that involvement , to work with you as long as we ...
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Common terms and phrases
27 July agencies assets Banco de Ponce Banco Financiero bank examiner Bank Secrecy Act bank's banking industry banks in Puerto bearer certificates billion BLAU branch managers BRARY Caribbean Federal Savings cash transactions CERRETA certificates of deposit Chairman ROTH commercial banks Committee Compliance Office CONGRESS LIBRARY CONGRESS THE LIBRARY criminal CTR's currency transaction report dealers Director drug employees Examinations and Supervision FDIC Federal Home Loan Federal Reserve Federal Savings Bank financial institutions Home Loan Bank illegal internal audit involved July 25 LIBRARY OF CONGRESS Loan Bank Board lottery Mier Permanent United money laundering MORLEY MUNOZ narcotics NELSON offense Operation Tracer organized crime Penagaricano personnel president problem procedures Puerto Rico record regulations regulatory requirements responsibility Rican RINZEL savings and loan SCHILLING Senate Subcommittee Senator RUDMAN staff statement Subcommittee on Investigations supervisory teller Testimony by Mariano tion trafficking Treasury Department United States Senate violations
Popular passages
Page 82 - OF THE FEDERAL HOME LOAN BANK BOARD The Federal Home Loan Bank Board...
Page 127 - ... internal and independent auditors. 7In addition to the bank and thrift regulators (the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Home Loan Bank Board) and Justice, the other members of the working group include the National Credit Union Administration, the Farm Credit Administration, and the Federal Bureau of Investigation.
Page 64 - I would ask each of you to please stand and raise your right hand. Do you swear the testimony you will give before this Subcommittee will be the truth, the whole truth, and nothing but the truth, so help you God. Mr.
Page 33 - The punishment for the new money laundering offense which we have proposed is appropriately severe: imprisonment for up to twenty years and a fine of up to the greater of $250,000 or twice the amount of money involved in the offense. Our bill also provides for a civil penalty of up to the greater of $10,000 or the amount involved in the transaction, and for the forfeiture of all funds involved in the offense. The civil penalty and the forfeiture provisions would be in addition to any fine imposed...
Page 23 - the process by which one conceals the existence, illegal source, or illegal application of income, and then disguises that income to make it appear legitimate...
Page 85 - Among the agencies whose efficiency and economy we are charged with evaluating are the bank supervisory agencies including the Office of the Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation ; and the Securities and Exchange Commission.
Page 102 - July 1, 1973, not to make, increase, extend, or renew any loan secured by improved real estate or a mobile home located or to be located...
Page 102 - Title VII prohibits discrimination based on race, color, religion, sex, and national origin in all aspects of employment. The Commission is bipartisan in composition and its members serve 5-year terms on a staggered basis.
Page 99 - ... the convenience and needs of communities include the need for credit services as well as deposit services; and (3) regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.
Page 65 - SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS, Washington, DC Pursuant to Rule 5 of the Rules of Procedure of the Senate Permanent Subcommittee on Investigations of the Committee on...