NEW YORK–A number of banks across the country have joined credit unions in offering financial assistance to customers being affected by the coronavirus.
The American Bankers Association has created a list of many of the bank offers here.
Some of the major banks offering relief include, according to this compilation assembled by CNBC:
- Ally Financial is allowing auto loan holders and existing mortgage customers to defer payments for up to 120 days with no late fees. In addition, fees for banking customers, including overdrafts and balance minimums, are also waived over the same time period.
- Bank of America, which is allowing credit card holders concerned about making payments on time to submit an online request for a payment deferral and, if up to date on accounts, the late payments will not be reported to credit bureaus. Bank of America also paused foreclosures, evictions and repossessions.
- Citi, which is offering monthly service fees waivers and waived penalties for early CD withdrawal. Card holders may also be able to increase their credit lines.
- Fifth Third Bank, which is waiving payments on mortgages and car loans for 90 days, as well as fees for customers. Card holders can also defer payments for up to 90 days with no late fees.
- Marcus by Goldman Sachs, which is allowing customers to postpone making a loan payment for one month — with no interest charged during the deferral — and is waiving penalties for early CD withdrawal.