- BBVA Compass lends a financial safety net for clients
- Requests: Customers employed by the federal government that are impacted by the shutdown are encouraged to contact BBVA Compass representatives to request and discuss possible options
HOUSTON, Jan. 10, 2019 /PRNewswire/ -- BBVA Compass announced Thursday that it will provide financial relief for clients directly impacted by the current federal government shutdown.
The rollout comes during the government shutdown that began on December 22 and endeavors to help lend a financial safety net for impacted customers. The financial relief spans checking, consumer loan, credit card, and mortgage products.
"BBVA Compass creates opportunities for its customers in both good times and bad, and we understand the hardship being endured by government employees during the shutdown," said BBVA Compass Director of Corporate Responsibility and Reputation Rey Ocañas. "We also know that no two situations are the same, so we encourage those impacted to reach out to us so we can work with them to ensure the stability of their financial well-being. We're here for our clients and we are eager to help those directly impacted by the government shutdown."
Examples of the bank's financial relief includes possible refunds on NSF and overdraft fees for customers no longer receiving government agency direct deposits into their BBVA Compass checking account. Other relief also includes possible payment deferrals on mortgage and other consumer loans, upon request.
Customers are encouraged to contact BBVA Compass either via branch visit or by phone to discuss possible solutions related to the government shutdown. Customers can also ask a BBVA Compass representative about the timeline for specific relief options.
The financial relief
Relief from the bank includes, upon request and if eligible:
- Waived NSF and extended overdraft fees
- Mortgage rate lock extensions
- Case-by-case payment deferrals for home equity and mortgage payments
- Case-by-case payment extensions on indirect or direct consumer loans
- Lower credit card interest rates on new purchases and existing balances
Details on the various financial relief options for those impacted by the government shutdown are available at bank branches or by calling 877-218-7254 from 8 a.m. to 5 p.m. CT.
To learn more about BBVA Compass, visit: www.bbvacompass.com
About BBVA Group
BBVA (BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States; and it is also the leading shareholder in Garanti, Turkey's biggest bank for market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. More information about BBVA Group can be found at bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 645 branches, including 332 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 6th nationally in the total number of SBA loans originated in fiscal year 2017. Additional information about BBVA Compass can be found under the Investor Relations tab at bbvacompass.com. For more BBVA Compass news, follow @BBVACompassNews on Twitter, visit newsroom.bbvacompass.com, or visit bbva.com.
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