Banco Popular North America

Report Card
B-
Overall Grade
C+
Mortgages Grade
C+
Credit Cards Grade
F
Bank Account Services Grade
Banco Popular North America is rated overall in the top 50 percentile (out of 100) based on 172 customer complaints.

Statistics

Complaints Currently In-Progress1
Complaints per $100K of Deposits37.1
Complaints Resolved in a Timely Manner96.5%
Resolutions Disputed by Customer18.6%
Average Time Until Resolution20 days

Financial Report

Owner CorporationPopular, Inc.
EstablishedJanuary, 1999
FDIC InsuredJanuary, 1999
FDIC Certificate #034967
Number of Branches64
Total Assets$7.1 Million (74th)
Total Deposits$4.6 Million (75th)
Total Equity$1.4 Million (71st)
Quartarly Net Income$15.5 Thousand (72nd)

Contact Information

Corporate Headquarters
7 West 51st Street
New York, NY 10019
United Statesflag
Website
http://www.popularcommunitybank.com
Data Summary
Banco Popular North America logo

Grade Summary

Overall, Banco Popular North America received a grade of "B-" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Banco Popular North America is rated "C+" in Mortgages, "C+" in Credit Cards, "F" in Bank Account Services, and "C+" in Consumer Loans. Click on any of the financial products to see how Banco Popular North America compares.

Overview

Banco Popular North America has received 172 consumer complaints since December, 2011 – more than 94% of other banks.

Of those complaints, 96.5% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Banco Popular North America meets the 60-day response deadline less frequently than 62.9% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 18.6% of customers dispute Banco Popular North America's response to complaints — worse than 50.4% of other companies.

Most of Banco Popular North America's customers complain about bank account or services with the primary issue being "account opening, closing, or management."

Banco Popular North America is primarily a commercial bank with a commercial lending specialization. Banco Popular North America is based in New York, New York and is the 74th largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, Banco Popular North America receives far more complaints than most other banks. Banco Popular North America recieves more complaints per customer than 99% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against Banco Popular North America
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Bank account or serviceChecking accountAccount opening, closing, or management26
2Consumer loanInstallment loanTaking out the loan or lease15
3Payday loanApplied for loan/did not receive money14
4MortgageOther mortgageLoan modification,collection,foreclosure12
5Bank account or serviceChecking accountDeposits and withdrawals11
6Bank account or service(CD) Certificate of depositAccount opening, closing, or management11
7MortgageOther mortgageLoan servicing, payments, escrow account9
8Bank account or serviceOther bank product/serviceAccount opening, closing, or management8
9Bank account or serviceChecking accountProblems caused by my funds being low8
10MortgageHome equity loan or line of creditLoan servicing, payments, escrow account7
Responses From Banco Popular North America
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation168163 (97%)34 (20.2%)
2Closed with monetary relief3030 (100%)4 (13.3%)
3Closed without relief77 (100%)2 (28.6%)
4Closed with non-monetary relief55 (100%)1 (20%)
5Closed32 (66.7%)1 (33.3%)
6Closed with relief22 (100%)0 (0%)
Complaints over the Past Year