In Brief: NationsBank Tops Low-Income Loan Goal

Surpassing its goal, NationsBank Corp. said it has lent $13.4 billion to borrowers with low and moderate incomes in less than five years.

In August 1991, the Charlotte, N.C.-based bank said it planned to make $10 billion of such loans over a 10-year period. Since the program began, NationsBank made more than 326,000 loans in areas with low-income and moderate-income residents; in 1995 alone, the bank made $5 billion worth of those loans.

In a release, NationsBank president Kenneth D. Lewis said the company's new goal is to "sustain the momentum." NationsBank declined to disclose the default rate on these loans.

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