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

Opinion

Case 1:23-cv-06414-JGK Document 71 Filed 09/06/23 Page 1 of 3 200 Park Avenue WINSTON New York,NY 1016S T +1 1212) 294-6700 & STRAWN NORTH AMERICA SOUTH AMERICA EUROPE ASIA (242) 294-4700 LLP ABBE DAVID LOWELL September 6, 2023 VIA ECE ARETE) APPLICATION GRANT Hon. John G. Koelt! ~ $0 ORUERED United States District Court KON OL K Fe Southern District of New York ay □ CP 500 Pearl Street ab. Sohn G Kool, bt New York, NY 10007 © 7/, 3

Re: Banco San Juan Internacional, Inc. v. the Federal Reserve Bank of New York and the Board of Governors of the Federal Reserve System, No. 1:23-cv-6414 (JGK) Dear Judge Koeltl: Counsel for Plaintiff Banco San Juan Internacional, Inc. (““BSJI”’) writes pursuant to Section VI.2 of the Court’s Individual Practices to request leave to file under seal certain information in support of BSJI’s brief in further support of its motion for a preliminary injunction, filed September 6, 2023 (“Reply Brief”). The parties have conferred and Defendants do not object to this motion. In particular, BSJI secks permission to file the following documents under seal or with appropriate redactions: (1) Reply Brief, (2) Exhibits A and B to Declaration of Abbe D. Lowell in Support of Plaintiff’s Reply Brief, (3) Supplemental Declaration of Hector J. Vazquez and accompanying Exhibits A-G, (4) Second Supplemental Declaration of Christopher Laursen and accompanying Exhibits A and B, and (5) Exhibit A to AML RightSource Independent Review Audit Report Attestation. These materials contain non-public, commercial information about BSJI, including recent financial data, information about its compliance program, references to supervisory information, information specific to BSJI’s customers and customer transaction activity, and information from or shared with BJSI’s Supervisor, the Office of the Commissioner of Financial Institutions of Puerto Rico (““OCIF”). Courts enjoy broad discretion in sealing documents upon a showing of good cause. See, e.g., Geller v. Branic Int’l Realty Corp., 212 F.3d 734, 738 (2d Cir. 2000). At the outset of this matter, before it was assigned to Your Honor, the Honorable Judge Loretta Preska found good cause existed to keep these types of materials under seal and BSJI received permission to redact or file under seal highly sensitive, confidential information concerning BSJI’s operations, clients, and interactions with its regulator. On July 24, 2023, Judge Preska found that, “the bank secrecy laws of Puerto Rico prohibit disclosure of confidential BSJI customer account information” and that “Second Circuit precedent protects BSJI customers’

Case 1:235-CV-Db414-JORK VOCUMENT fe CHE UonDreo Page a Ui Hon. John G. Koeltl September 6, 2023 Abbe David Lowell Kelly A. Librera WINSTON & STRAWN LLP 200 Park Avenue New York, NY 10166 ADLowell@winston.com KLibrera@winston.com T: 1-212 294-6700 F: 1-212-294-4700 Counsel for Banco San Juan Internacional, Ine. ce: Counsel for All Parties (via ECF)