Institutions
Financial Board
The body created within OCIF to exercise specific powers over interest rates and maximum charges and advise the commissioner. It brings together nine public offices from different institutions. Having members from Hacienda, OCS, or COSSEC does not make those institutions subsidiaries of the Board.
Arts. 8–9 ↗Art. 9 ↗ · Sources consulted:Junta Financiera de la OCIF · Financial Board of OCIF
Spanish legal name: Junta Financiera. Spanish legal names are retained. Some English names are functional translations.
- Government level
- State-level
- Branch or grouping
- Independent bodies
- Type
- Board or commission
- Sources consulted
- Oct 18, 2026
What it does
- May set, increase, reduce, or leave unset maximum rates and charges by regulation within the statute’s scope. Special statutes and article 8’s conditions limit that power; it does not mean the Board sets every contract’s rate or replaces all federal regulation.Art. 8(b) ↗ · Sources consulted:
- Advises OCIF on financial-institution development and credit conditions favorable to economic stability. The commissioner must submit the regulations identified by the statute for its recommendation, except internal office rules; a recommendation does not transfer all commissioner powers to the Board.Art. 9 ↗Art. 10(a)(2) ↗ · Sources consulted:
- May hold hearings and studies and request information relevant to its duties. The commissioner supplies technical, legal, and office support. Adopted regulations must follow applicable administrative procedure and do not apply retroactively to earlier contracts or obligations under article 9-B.Arts. 8(e), 9-A ↗Art. 9-B ↗ · Sources consulted:
In everyday life
To understand a rule on financial charges, distinguish who adopts it from who investigates a possible violation: the Board has the regulatory powers assigned by statute; OCIF, through the commissioner, handles the complaint. Applying a particular rate requires identifying the effective rule, transaction, and contract date.Arts. 8(b), 9-B, 10(a)(3) ↗Art. 9-B ↗Art. 10(a)(3) ↗ · Sources consulted:
How to distinguish it from other institutions
It is distinct from PROMESA’s Financial Oversight Board. Its powers come from Act 4-1985 and address specific financial matters; it is not assigned certification of budgets or fiscal plans.Arts. 8–9 ↗ · Sources consulted:
It does not replace OCIF’s complaint service or the commissioner’s leadership. The statute assigns the commissioner responsibility for complaints submitted to the Board or office. Use OCIF’s official channel for an individual matter.Arts. 5, 10(a)(3) ↗Art. 10(a)(3) ↗Complaint filing ↗ · Sources consulted:
Official services and information
Confirm requirements, forms, and schedules on the linked official portal.
Where it fits
- Body established within OCIF: Office of the Commissioner of Financial Institutions Art. 8(a), (e) ↗Art. 8(e) ↗ · Sources consulted:
- Includes the office held at: Office of the Commissioner of Financial Institutions Art. 8(a)–(b) ↗ · Sources consulted:
- Ex officio chair from: Department of the Treasury Art. 8(a)–(b) ↗ · Sources consulted:
- Includes the office held at: Department of Economic Development and Commerce Art. 8(a)–(b) ↗ · Sources consulted:
- Includes the office held at: Department of Consumer Affairs Art. 8(a)–(b) ↗ · Sources consulted:
- Includes the office held at: Economic Development Bank for Puerto Rico Art. 8(a)–(b) ↗ · Sources consulted:
- Includes the office held at: Puerto Rico Planning Board Art. 8(a)–(b) ↗ · Sources consulted:
- Includes the office held at: Puerto Rico Fiscal Agency and Financial Advisory Authority Art. 8(a)–(b) ↗ · Sources consulted:
- Includes the office held at: Public Corporation for the Supervision and Insurance of Cooperatives Art. 8(a)–(b) ↗ · Sources consulted:
- Includes the office held at: Office of the Commissioner of Insurance Art. 8(a)–(b) ↗ · Sources consulted:
Map groupings support navigation; they do not themselves establish reporting authority.
Leadership & appointments
Ex officio chair: Secretary of the Treasury
The Treasury Secretary chairs the Board by statute; the Financial Institutions Commissioner also sits on it and supplies support. These are seats tied to public offices, not nine additional gubernatorial appointments. Current participation, delegations, and a complete list of occupants are not certified here.Art. 8(a)–(b), (e) ↗Art. 8(e) ↗ · Sources consulted:
A name is not published without current verification of the role.
- Appointment
- Verification pending
- Confirmation
- Verification pending
- Term end
- Verification pending
An absent name does not imply a vacancy. Names from the seed report are not automatically treated as current officeholders.
Governance & composition
Nine offices make up the Board: OCIF commissioner; Treasury Secretary, as chair; DDEC and DACO secretaries; Economic Development Bank president; Planning Board chair; AAFAF executive director; COSSEC executive president; and OCS commissioner. Quorum is four and must include Hacienda and OCIF. The statute regulates votes, referenda, and recusals for conflicts. Legal composition is verified; actual participants and current delegations remain pending.Art. 8(a)–(d) ↗Art. 8(c)–(e) ↗ · Sources consulted:
Members, vacancies, and terms are not certified as a complete roster. An expired term is not automatically treated as a vacancy; some laws allow service until a successor qualifies.
Sources consulted: Oct 18, 2026
Sources & method
The consultation date is not the institution’s own update date.
- Ley 4 de 11 de octubre de 1985 — OCIF y Junta Financiera (compilación OGP) ↗https://bvirtualogp.pr.gov/ogp/Bvirtual/LeyesOrganicas/Pages/4-10-1985.pdfSources consulted: Oct 18, 2026 · Document revised: Sep 24, 2024
- OCIF — Querellas y acceso al formulario oficial ↗https://ocif.pr.gov/querellasSources consulted: Oct 18, 2026
- OCIF — Historia, alcance y áreas de trabajo ↗https://ocif.pr.gov/sobre-nosotrosSources consulted: Oct 18, 2026