Big banks offering to delay some debt payments for those affected by COVID-19
Bank of America is joining other big banks around the country by deferring certain debt payments for customers who are affected by coronavirus, a bank representative said Friday.
Other banks, such as Wells Fargo, Chase and Citibank, with a heavy presence throughout South Carolina, have all made similar moves.
Those who owe money to Bank of America for car payments, home equity loans, credit cards or other types of debt may be allowed to delay those payments, Kim Wilkerson, the S.C. president for Bank of America, said during a Chamber of Commerce call with reporters Friday afternoon.
To ask Bank of America for a deferral, customers can go to a branch in person, call a branch or register online, according to the company’s website.
“Our clients’ financial lives really do depend on us,” Wilkerson said.
The company also recently promised to have no layoffs during the COVID-19 pandemic, according to an article in the Charlotte Observer.
BEHIND THE STORY
MOREWhat you should know about the coronavirus
The coronavirus is spreading in the United States. Officials are urging people to take precautions to avoid getting sick, and to avoid spreading the disease if they do contract it.
Click the drop-down icon on this card for more on the virus and what you should do to keep yourself and those around you healthy.
What is coronavirus?
Coronavirus is an infection of the respiratory system similar to the flu. Coronaviruses are a class of viruses that regularly cause illnesses among adults and children, but this outbreak has spawned a new disease called COVID-19, a particularly harsh respiratory condition that can lead to death.
Health officials believe COVID-19 spread from animals to humans somewhere in China. It spreads among humans by physical person-to-person contact, including via coughs. That’s why health officials urge sick individuals to avoid contact with other people.
For more information, visit the website for the Centers for Disease Control and Prevention.
What are the symptoms?
Symptoms are similar to the flu and include fever, coughing and shortness of breath.
How can I stop the spread of the coronavirus?
Wash your hands regularly with soap and water, and cover your mouth and nose when you cough or sneeze.
If you develop symptoms similar to the coronavirus, you should seek medical attention. Stay home from work or school and avoid contact with others. It can take up to 14 days after coming into contact with the virus to develop symptoms.
COVID-19 is a new condition and there’s much about the disease we still don’t understand. For now, taking precautions is the best way to stop the spread of the coronavirus.