Rochester, NY 7/15/2009 3:40:32 AM
RF - Regions spent $15B on help for borrowers in '08
Regions Financial Corp., RF
Regions Financial Corp., RF
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Regions Financial Corp. provided $15.3 billion in small business, community development and mortgage lending for low- to moderate-income borrowers in 2008, the bank said Wednesday. The bank has provided $40.4 billion in the past two years, as part of a seven-year, $100 billion commitment. Through the program, Regions has expanded its Customer Assistance Program, which provides aid to troubled borrowers and prevent foreclosure, and partnered with Seedco Financial Services to provide increased economic opportunities for disadvantaged workers and job seekers. Regions announced the $100 billion plan in 2006, which will provide at least $50 billion for small business loans, $40 billion in mortgages for low- to middle-income families or families living in low- to middle-income communities and $10 billion for community development lending.
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