Question and Answer Guide New York
Doral Bank, San Juan, PR
The following list of responses to frequently asked questions may assist you in understanding what is happening at Doral Bank.
On Friday, February 27, 2015, Doral Bank, San Juan, PR was closed by the Office of the Commissioner of Financial Institutions of Puerto Rico. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, Banco Popular de Puerto Rico, Hato Rey, PR (Assuming Institution) acquired all the deposits and substantially all the assets of Doral Bank from the FDIC as Receiver. The Assuming Institution entered into an agreement to transfer the deposits in New York branches to Banco Popular North America, New York, NY. All shares of stock were owned by the holding company, which was not involved in this transaction.
YOUR MONEY IS SAFE! No one lost any money on deposit as a result of the closure of this bank. All deposits, regardless of dollar amount, were transferred to the branch owner.
ACCESS TO YOUR MONEY: You may continue to use your checks, and they will clear up to the available balance in your account. Your ATM/Debit card will continue to work as usual. The total balance in all your account(s), has been transferred and will be available for transactions during regular business hours at the former Doral branches only, until notified in writing.
DIRECT DEPOSITS: All direct deposits, including social security checks, will continue as usual.
AUTOPAYMENTS/BILLPAY/ONLINE BANKING: These services will continue as usual. Your routing number and account number will remain the same until you are notified in writing by the branch owner.
INTEREST RATES: Interest on deposits accrued through close of business on Friday, February 27, 2015, will be paid at your same rate. Doral Bank's rates will be reviewed by the branch owner and may be lowered; however, you will be notified in writing of any changes. You may withdraw funds from any transferred account, regardless of whether your interest rate changes, without early withdrawal penalty until you enter into a new deposit agreement with the branch owner.
SAFE DEPOSIT BOXES: You may continue to access your safe deposit box at your branch during normal business hours. You will be notified in writing of any changes.
LOAN PAYMENTS: You should continue to make your payments according to the terms of your written contract. You may continue to make your payments at the branch office or send them to the same payment address with checks made payable to Doral Bank. Please contact your loan officer with any questions.
SHARES OF STOCK: All shares of stock were owned by the holding company, Doral Financial Corporation, Coral Gables, FL. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of Doral Financial Corporation, please do not contact or file a claim with the receiver. You must contact the holding company directly for more information:
Doral Financial Corporation
999 Ponce de Leon Blvd, Suite 730
Coral Gables, FL 33134
CLAIMS: Please send claims to the following address:
FDIC as Receiver for Doral Bank
1601 Bryan Street, Suite 1410
Dallas, TX 75201-3479
Attention: Claims Agent
DEPOSIT INSURANCE INFORMATION: If you have accounts in both the failed bank and Banco Popular de Puerto Rico, they will be insured separately for at least six months following the merger of the banks. This will allow you time to restructure your accounts if necessary.
ADDITIONAL QUESTIONS: You may contact the FDIC Call Center at the number provided below with any additional questions:
FDIC Call Center
Toll free number 1-800-887-7340
Hours of Operation – Eastern Time
Friday, February 27, 2015: Until 11:59 p.m.
Saturday, February 28, 2015: 12:00 a.m. – 11:59 p.m.
Sunday, March 1, 2015: 12:00 a.m. – 11:59 p.m.
Monday, March 2, 2015: 12:00 a.m. – 7:00 p.m.
Thereafter: 8:00 a.m. – 4:00 p.m.
SCAMS: Be watchful for and resistant to any scams to obtain personal information from you by individuals or entities stating that they are acting on behalf of either the failed bank, new bank, or the FDIC.
For more information: www.fdic.gov/bank/individual/failed/doral.html