Doral Financial Corp. told the Securities and Exchange Commission Monday that the revised capital restoration plan submitted to the Federal Deposit Insurance Corp. last week was rejected for failing to “meet the criteria.”
Doral Financial Corp.’s stock plunged nearly 25 percent Wednesday after disclosing it had received a warning by Federal Deposit Insurance Corp. that it falls within its “significantly undercapitalized” category.
The Office of the Commissioner of Financial Institutions, Puerto Rico’s banking watchdog, was left out of the talks leading to the agreement through which the Treasury Department approved a $229 million tax refund to Doral ...