Legislature to look into government banks. (Commonwealth Senate vice president Miguel Deynes Soto and House Speaker Jose Jarabo to investigate Government Development Bank for Puerto Rico and Economic Development Bank for Puerto Rico)

Legislature to look into government banks

Miguel Deynes Soto, vice president of the Commonwealth Senate, and House Speaker Jose "Rony" Jarabo promised commercial bankers last week that they will initiate an investigation into the alleged conservative lending policies of the two government-owned banks in Puerto Rico.

Bankers gathered at Friday's annual convention of the Puerto Rico Bankers Association (PRBA) complained that the Government Development Bank for Puerto Rico (GDB) is hardly making any loans at all to the private sector, and that the Economic Development Bank for Puerto Rico (EDB) has become so conservative in its credit-granting policies that it is …