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PS 355

“Para enmendar el subinciso (12) del inciso (d) del Artículo 4 de la Ley 114-2001, según enmendada, conocida como “Ley de la Corporación Pública para la Supervisión y Seguro de Cooperativas de Ahorro y Crédito”, con el propósito de requerirle a la Corporación Pública para la Supervisión y Seguro de Cooperativas de Puerto Rico, la publicación a través de su página electrónica y de la red internacional de información, conocida como Internet y mantener accesible al público, las determinaciones sobre consultas u opiniones legales, quejas, denuncias o querellas presentadas ante su consideración, que incluya a cualquier persona natural o jurídica, así como a las cooperativas, sus cuerpos directivos, oficiales u otros funcionarios relacionados con los servicios, operaciones y toda normativa o ley relacionada a las cooperativas; publicar y mantener accesible al público las determinaciones de investigaciones, quejas, denuncias o querellas generadas por la Corporación Pública para la Supervisión y Seguro de Cooperativas de Puerto Rico en el desempeño de sus facultades adjudicativas, regulatorias, supervisoras, fiscalizadoras y de examen sobre las instituciones cooperativas, sus cuerpos directivos y sus funcionarios; establecer que la publicación de las determinaciones se realizarán cuando advengan como finales y firmes; facultar para la creación de un Reglamento para la implementación de esta Ley; y para otros fines relacionados.”

2025-2028 Session

Requires CPSCC to publish final, binding determinations and related records (opinions, complaints, investigations) on its site for public access.

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Bill Summary · PS 355

Summary — PS 355

Title (original): “Para enmendar el subinciso (12) del inciso (d) del Artículo 4 de la Ley 114-2001, según enmendada, conocida como ‘Ley de la Corporación Pública para la Supervisión y Seguro de Cooperativas de Ahorro y Crédito’…”
Short title (English): Amendment to Law 114‑2001 to require public publication of determinations and investigatory outcomes by the Public Corporation for the Supervision and Insurance of Credit Unions (CPSCC, Puerto Rico)

At a glance

  • Bill number: PS 355
  • Introduced: 21 Feb 2025
  • Main action: Amend sub‑paragraph (12) of paragraph (d) of Article 4 of Law 114‑2001 (as amended)
  • Current status: Passed Senate (final approval with amendments 19 May 2025); transmitted to House; appeared in House first reading 27 May 2025 and referred to committee(s)

Purpose / Intent

The bill seeks to increase transparency and public access to the CPSCC’s determinations and outcomes by requiring the Corporation to publish on its website (and keep publicly accessible) final and binding determinations, legal opinions, and decisions arising from consultations, complaints, denunciations, querellas and investigations involving cooperatives, cooperative directors, officers, other related officials, and any natural or juridical persons.

Key provisions

  • Requires the Corporación Pública para la Supervisión y Seguro de Cooperativas de Puerto Rico (CPSCC) to:
    • Publish on its official web page and make publicly accessible, the Corporation’s determinations regarding:
    • Legal consultations/opinions submitted to it;
    • Complaints, denunciations, querellas or other claims presented to the Corporation;
    • Investigations and determinations generated by the CPSCC in the exercise of its adjudicative, regulatory, supervisory, fiscalization and examination powers over cooperative institutions, their boards and officials.
    • Limit publication to determinations that have become final and firm (i.e., no longer subject to internal appeal or pending judicial review).
  • Authorizes the CPSCC to adopt a regulation (Reglamento) to implement the law and set procedures for publishing and maintaining these records.

Who/what is affected

  • Directly: CPSCC (administrative duties and record‑posting responsibilities).
  • Subject of published determinations: cooperatives (institutions), cooperative boards, officers/officials, and any natural or juridical persons involved in matters before the CPSCC.
  • Indirectly: members of cooperatives, consumers, regulators, media, researchers, and legal practitioners who rely on public records.

Procedural / timeline notes

  • Legislative history highlights:
    • Filed 21 Feb 2025; first Senate reading 24 Feb 2025.
    • 1st Senate committee report issued 5 May 2025 (without amendments).
    • Senate final passage (with amendments) 19 May 2025; approval text sent to the House same day.
    • House first reading 27 May 2025 and referred to committee(s).
  • Implementation will require the CPSCC to adopt an implementing regulation; timing for publication will depend on that regulation and any administrative setup.

Potential impacts / considerations

  • Transparency: Increases public access to CPSCC decisions and investigative outcomes once final.
  • Privacy/confidentiality: Publication of determinations involving persons or sensitive information could raise privacy or confidentiality concerns; the bill limits publication to final determinations but does not specify redaction rules—these may be addressed in the implementing regulation.
  • Administrative burden: CPSCC will need processes, website capabilities, and possibly staff to publish and maintain records.
  • Legal consequences: Public posting of final determinations may affect reputations, subsequent litigation, and enforcement actions.

This summary focuses on the bill’s substantive changes and procedural status; specific regulatory details (e.g., redaction standards, timeframe for posting) will depend on the implementing Reglamento the CPSCC promulgates if the law is enacted.

Compiled from official sources — confirm details with the bill’s official record.

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