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Santander federal conversion near approval
Federal regulatory approval of the conversion of Santander Federal Savings Bank into a national bank should come within the next two weeks, according to sources in Hato Rey's financial district.
The Office of Thrift Supervision (OTS) and the Office of the Comptroller of the Currency (OCC), the two federal regulatory agencies that must rule on the conversion, are expected to soon reach a final decision. It is unclear whether the Federal Reserve Board will also have to issue a decision thereafter.
Santander Federal applied for national bank conversion last March, the first of what is expected to be several …