Regions Financial Corp. - RF STOCK NEWS

Regions Bank announced new financial services and a $225,000 grant from the Regions Foundation to support Hurricane Ian recovery efforts. Allocations include $100,000 to the American Red Cross and $50,000 to the United Way of Lee County. Regions is providing tailored disaster-recovery services such as waived fees on ATM transactions for impacted customers, payment deferrals on loans, and reduced interest rates on new loans. Most of Regions' 234 branches in Florida are operational, aiding local recovery.

Regions Bank announced a settlement with the Consumer Financial Protection Bureau (CFPB) on Sept. 28, 2022, concerning an overdraft fee they ceased charging over a year ago. The settlement includes a $50 million penalty and approximately $141 million in customer redress, impacting Q3 2022 results. While disagreeing with CFPB's claims, Regions aims to focus on customer support and fee reduction initiatives, including eliminating overdraft fees and enhancing services for better financial management.

Regions Bank has appointed Kelly Henderson as syndications lead for its Affordable Housing group within the Real Estate Capital Markets division. Based in Great Neck, New York, Henderson brings over 30 years of experience in the Low-Income Housing Tax Credit (LIHTC) industry, having closed over $1 billion in equity syndications. She will manage the distribution of LIHTC funds and develop investor relationships. This strategic move aims to strengthen Regions’ capabilities in affordable housing finance, aligning with its broader objective to enhance its Real Estate Capital Markets services.

Regions Financial Corp. (NYSE:RF) will announce its third quarter 2022 financial results on Friday, Oct. 21, 2022, before the market opens. The company will host a webcast at 10 a.m. ET to review the results, accessible through their investor relations website.

Regions Financial, with $161 billion in assets, is a major player in consumer and commercial banking in the South, Midwest, and Texas. The company operates roughly 1,300 banking offices and over 2,000 ATMs.

Regions Bank introduces two innovative services aimed at enhancing customer financial health: Early Pay and the Regions Protection Line of Credit. Early Pay allows customers to receive qualifying payroll and government direct deposits up to two days early at no cost. The Regions Protection Line of Credit offers instant access to funds ranging from $50 to $500 for short-term needs, helping to avoid overdraft fees. These initiatives align with Regions' commitment to reducing financial burdens on customers and promoting better cash flow management.

Regions Bank and the Regions Foundation are addressing the water crisis in Metro Jackson, Mississippi, by announcing a $25,000 grant to the United Way of the Capital Area. This funding will support immediate relief and long-term recovery efforts for affected residents. Additionally, Regions Bank has introduced special disaster-recovery financial services for impacted customers starting September 2, 2022. These services include waived fees for FEMA checks, payment deferrals on loans, and discounts on new loans. Both organizations emphasize their commitment to supporting the community during this critical time.

Regions Bank has appointed Ryan Sladek as the head of its Institutional Services division. Sladek, previously with PNC Institutional Asset Management, will lead a team focused on custom investment services for corporations, nonprofits, and municipalities. His leadership aims to expand the client base in high-growth markets, including the Southeast and Midwest. Regions continues to strengthen its institutional client offerings through a consultative approach to financial solutions.

Regions Financial Corporation has closed two transactions supporting the development of HELP ONE Buildings A & B in Brooklyn, New York. This project, led by HELP USA, aims to address chronic homelessness by providing over 250 affordable apartments, with 154 units designated for individuals facing homelessness and substance abuse issues. Regions arranged $62 million in equity financing through BNY Mellon, underscoring its commitment to affordable housing and social services for vulnerable populations.