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Article Excerpt
SAN FRANCISCO -- The Office of the Comptroller of the Currency (OCC) has awarded San Francisco-based Union Bank, N.A., an "Outstanding" rating for surpassing the terms of the Community Reinvestment Act (CRA), which OCC-regulated institutions have been required to follow since the law was enacted in 1977. This is the second consecutive "Outstanding" rating the bank has received, demonstrating its sustained commitment to the low- and moderate-income (LMI) communities where it conducts business.
Furthermore, in granting Union Bank the rating, the OCC recognized the bank's leadership in community development lending, a core competency for which the bank has received national recognition. Examiners from the OCC reviewed the bank during June, July and August of 2009.
"We are honored to receive this rating from the OCC and be recognized for our unwavering commitment to underserved communities in our markets," said President and Chief Executive Officer Masaaki Tanaka. "We are pleased to receive the distinction for the second time, which helps validate and reinforce our ongoing efforts. Moving forward,...
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