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Stock impact report

Banks could benefit from investing in Puerto Rico. But few are doing it. [MSNBC.com]

Wells Fargo & Company (WFC) 
Last wells fargo & company earnings: 4/14 07:46 am Check Earnings Report
US:NYSE Investor Relations: wellsfargo.com/about/investor-relations
Company Research Source: MSNBC.com
Banks could benefit from investing in Puerto Rico. But few are doing it. Breaking s Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE May 24, 2019, 6:07 PM UTC By Nicole Acevedo American banks have been given a chance to help Puerto Rico and earn the equivalent of brownie points for it — but few banks have taken the opportunity. Last year, to encourage banks to invest in Puerto Rico and help inject much-needed cash flow into the island, federal banking officials expanded the Community Reinvestment Act (CRA) to include This means that any financial institution in any state can invest in the development of hurricane-affected Puerto Rican communities or individuals and be eligible to receive CRA credit for such investments. Banks benefit from having a good CRA record. It improves financial institutions’ chances when they apply for bank mergers “Banks are only required to do these investments in their areas, but Puerto R Show less Read more
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