Banco San Juan Internacional, Inc. v. The Federal Reserve Bank of New York

Background

Banco San Juan Internacional, Inc. asked for permission to file under seal or with redactions certain materials supporting its reply brief on its motion for a preliminary injunction. The requested materials were the reply brief; exhibits to a declaration; supplemental declarations and their exhibits; and an exhibit to an independent review audit-report attestation.

Arguments and Prior Ruling

Banco San Juan stated that the materials contained nonpublic commercial information, including recent financial data, information about its compliance program, supervisory information, information concerning customers and customer transactions, and information from or shared with its regulator, the Office of the Commissioner of Financial Institutions of Puerto Rico. It also cited an earlier ruling in this case stating that Puerto Rico bank-secrecy laws prohibited disclosure of confidential customer-account information and that Second Circuit precedent protected Banco San Juan’s customers’ information. The defendants did not object to the application.

Ruling

The court granted the application to file the identified materials under seal or with appropriate redactions. The provided text appears to show the court’s handwritten notation that the application was granted and that the ruling was ordered by Judge John G. Koeltl. It does not include a separate written explanation or specify, for each listed item, whether the item was to be sealed or redacted.

Effect

The ruling concerns access to the identified filings and does not decide the underlying request for a preliminary injunction or the merits of the dispute based on the provided text.