Banco San Juan Internacional, Inc. v. The Federal Reserve Bank of New York
- John Koeltl
- 1:23-cv-06414
- U.S. District Court · Southern District of New York
- 2
In Banco San Juan Internacional v. Federal Reserve Bank of New York, Judge Koeltl granted limited transcript redactions to protect information covered by Puerto Rican law.
Banco San Juan Internacional, Inc., the Federal Reserve Bank of New York, the Board of Governors of the Federal Reserve System, and members of the public seeking access to the hearing transcript.
What happened
Banco San Juan Internacional, Inc. v. the Federal Reserve Bank of New York and the Board of Governors of the Federal Reserve System concerned a request to redact part of a transcript from a July 26, 2023 hearing. Banco San Juan said the transcript referred to nonpublic information exchanged with Puerto Rico’s Commissioner of Financial Institutions.
Banco San Juan asked to redact three lines—transcript pages 26:15–17—because Puerto Rican law treated certain information about branch applications as confidential. The Federal Reserve Bank of New York and the Board did not object.
Judge John G. Koeltl granted the application and ordered the requested redactions applied to the transcript. The order addressed only the limited redaction request.
The detailed version
- Banco San Juan Internacional, Inc. v. The Federal Reserve Bank of New York · No. 1:23-cv-06414
- John Koeltl
- Aug. 25, 2023
Background
Banco San Juan Internacional, Inc. (BSJI) asked the court to redact a portion of the transcript from a July 26, 2023 hearing concerning BSJI’s proposed order to show cause and emergency relief. The requested redaction concerned a reference to information exchanged between BSJI and the Commissioner of Financial Institutions of Puerto Rico, identified in the filing as OCIF.
Request
BSJI asked the court to redact three lines of the 38-page transcript, specifically pages 26:15–17. It argued that Puerto Rican law prohibited disclosure of information in documents such as examinations and reports exchanged with OCIF. BSJI also stated that the court had previously allowed redactions involving OCIF-related information and had allowed the Federal Reserve Bank of New York to file similar information under seal. The defendants did not object to this request.
Ruling
Judge John G. Koeltl granted the application and directed that the requested redactions be applied to the transcript. The order did not decide the underlying dispute between BSJI and the federal banking defendants; it ruled only on the limited transcript-redaction request.
Read the full 2-page opinion on CourtListener, the free public archive maintained by the Free Law Project.