The Federal Reserve Board has issued an enforcement action against Gadiel J. Rosario-Alvarado, a former employee of Banco Popular de Puerto Rico, for misappropriating approximately $65,747 from bank customers. Rosario-Alvarado, who worked as a Telephone Banking Consultant at the bank from 2023 to 2025, debited funds from customer accounts and applied them to pay down his and his relative's credit card in a series of at least 50 transactions. The bank terminated Rosario-Alvarado in June 2025 after he admitted to conducting some of these unauthorized transactions. As a result, the Federal Reserve Board has issued an Order of Prohibition, which prohibits Rosario-Alvarado from participating in the conduct of the affairs of any insured depository institution or holding company without prior written approval. The order also prohibits him from soliciting or voting any proxy, consent, or authorization with respect to any voting rights in such institutions. Rosario-Alvarado has consented to the issuance of the order and has waived his rights to a hearing or judicial review. The Federal Reserve Board's enforcement action is intended to protect the safety and soundness of the banking system and to prevent similar misconduct in the future. The order is effective immediately and will remain in place until it is modified, terminated, or suspended by the Federal Reserve Board.