AdvisorNews: Federal Reserve Bank of Atlanta rates BBVA Compass “outstanding” for CRA performance
AdvisorNews, January 4th, 2019: Federal Reserve Bank of Atlanta rates BBVA compass “outstanding” for CRA performance
The evaluation cited several reasons for BBVA Compass’ overall ‘Outstanding’ rating, including the bank’s excellent responsiveness to credit needs and the distribution of loans among borrowers of different income levels and businesses of different revenue sizes. In addition, BBVA Compass demonstrated leadership in making community development loans and investments, as well as leadership in providing community development services.
“Over the past three years, BBVA Compass has continued to demonstrate our strong commitment to responsible banking across our footprint with renewed and improved programs, and I think that hard work is reflected in this outstanding rating,” said BBVA Compass Director of Communications and Responsible Banking Reymundo Ocañas. “We’ve really entrenched ourselves in the communities we serve, too, with the formation of our Community Advisory Board, which helps us to identify and address the greatest needs in each community.” Ocanas also serves as the bank’s Community Reinvestment Act Officer.
“BBVA Compass is the perfect example of a lender who takes responsibility in LMI neighborhoods and with people of color,” said John Taylor, president and founder of the National Community Reinvestment Coalition and a member of the bank’s community advisory board. “Their commitment is clearly demonstrated by the outstanding rating, but more importantly, in the lending, services and investments they make throughout their footprint.”