First Finance International Bank, Inc. v. Office of the Commissioner of Financial Institutions
AdministrativeLaw DueProcess Securities Privacy
Does the regulation of First Finance International Bank by the Office of the Commissioner of Financial Institutions violate the Foreign Dormant Commerce Clause and Equal Protection Clause through selective enforcement?
QUESTIONS PRESENTED 1. Does Respondent The Office Of The Commissioner Of Financial Institutions (““OCIF”)’s regulation of Petitioner First Finance International Bank (“FFIB”) violate the Foreign Dormant Commerce Clause and the Equal Protection Clause through selective enforcement of Puerto Rico statutes and regulations? 2. Should this Court order this matter remanded to the Puerto Rico courts for further consideration in light of this Court’s recent pronouncements in Loper Bright Enterprises v. Raimondo, 144 8. Ct. 2244, 2247 (2024)? u PARTIES All parties appear in the caption of the case on the cover page. CORPORATE DISCLOSURE Pursuant to Supreme Court Rule 29.6, Petitioner FIRST FINANCE INTERNATIONAL BANK, INC. (“FFIB”) discloses the following: There is no parent or publicly-held company owning ten percent (10%) or more of Petitioner’s stock. w RELATED CASES Administrative ruling: Office Of The Commissioner Of Financial Institutions, Complainant, v. First Finance International Bank, Inc., Respondent Office Of The Commissioner Of Financial Institutions Case #: C22-D-008 Administrative ruling (order appointing a trustee and instructing the trustee to liquidate the Bank’s assets): March 27, 2023 Direct appeal of administrative ruling: First Finance International Bank, Inc., Appellant, v. Office of the Commissioner of Financial Institutions, Appellee. Puerto Rico Commonwealth Court of Appeals: KLRA202300209 Judgment: June 26, 2023. Discretionary review of administrative ruling First Finance International Bank, Inc. (“FFIB”), Petitioner, v. Office Of The Commissioner Of Financial Institutions, Respondent. v Puerto Rico Supreme Court: CC-2023-604, CC-20240022 Certiorari denied as premature: November 11, 2023 (CC-2023-604) Certiorari denied: February 16, 2024 (CC-2024-0022)