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2d ago

Trump Removes Five Members From Puerto Rico Financial Oversight Board

The dismissals leave only two Republican appointees in place, prompting challenges over PROMESA’s removal-for-cause protections.

FILE - Customers sit inside a restaurant lit by battery-powered lanterns during an island-wide power outage, in Old San Juan, Puerto Rico, April 16, 2025. (AP Photo/Alejandro Granadillo, File)
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Overview

  • President Trump on August 5 fired five of seven members of the Financial Oversight Management Board that governs Puerto Rico’s debt.
  • The five dismissed members—Arthur Gonzalez, Cameron McKenzie, Betty Rosa, Juan Sabater and Luis Ubiñas—were all appointed by Democratic presidents.
  • A White House official accused the board of operating inefficiently in secrecy, incurring high fees for law firms and consultants.
  • Legal analysts and former oversight officials say PROMESA allows board members to be removed only for just cause, raising questions about the administration’s authority.
  • Debt negotiations over more than $9 billion of Puerto Rico Electric Power Authority bonds remain unresolved with creditors pressing for full repayment.