Contact:
Denise Osterhues
(704) 383-4254
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December 03, 1998
First Union Recognized for Fair Lending Commitment
CHARLOTTE - First Union Corporation was recognized this week by the Florida Commission on Human Relations for its leadership and dedication to promoting equality and fairness in lending. The Commission presented a 1998 Civil Rights Advocacy Award to First Union during its Annual Civil Rights Conference in Jacksonville.
The award recognizes the company's innovative and comprehensive Fair Lending program, which is integrated through all operational levels at First Union.
"We are honored to receive this award," said Michael R. Rizer, senior vice president and Fair Lending/Compliance manager for First Union. "Our team works hard to develop and apply innovative measures to help ensure that all customers are treated fairly."
First Union's Fair Lending Policy helps lending officers apply credit standards uniformly. A corporate Fair Lending team of experts in law, econometrics, lending and compliance focuses on First Union's programs and policies and applies leading-edge tools to monitor performance. This team also helps train First Union employees who make credit decisions and leads a second review program to give all loan applicants another opportunity for consideration before their credit request is completed.
"Our job is to make sure that every customer is treated in a consistent manner and without discrimination," Rizer said. "At First Union, fair lending is simply good business."
Charlotte-based First Union Corporation (NYSE:FTU) is a leading financial services company with assets of $235 billion at Sept. 30, 1998, and market capitalization that places it among the top 15 financial services companies in the world. Ranked as the nation's sixth largest bank and eighth largest brokerage, it serves 16 million customers who can access account information and purchase financial products at 2,400 retail offices, 3,400 automated teller machines, through the Internet at www.firstunion.com, or by calling First Union Direct at 1-800-ASK-FUNB.
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