Founded in 1972, R&G Financial Corporation grew to become the second-largest financial holding company in Puerto Rico. Its primary subsidiaries were R-G Premier Bank, a commercial bank, and R&G Mortgage, which focused on originating, acquiring, and servicing mortgage loans. The company was heavily exposed to the subprime and non-conforming mortgage market, which led to severe financial distress during the 2008 global financial crisis. Unable to recover, R&G Financial Corporation filed for Chapter 11 bankruptcy in 2009, and its main subsidiary, R-G Premier Bank, was seized by the Federal Deposit Insurance Corporation (FDIC) in 2010, with its assets sold to Scotiabank.

Founded in

United Kingdom