Popular Inc., the Puerto Rican bank that owes $935 million to the U.S. government, has surged 30 percent this year as more customers pay their debts on time. Its board members and their relatives aren’t always among them.
Chairman and chief executive officer Richard Carrion’s sister and two of his nephews, one of whom is also a Popular director, have delinquent property loans to the San Juan-based lender, according to a regulatory filing. The bank has also restructured the loans of another director, the board’s head of corporate governance, and classifies his debts as “troubled,” the filing shows.
