California Banks Encourage Outreach, Assisting Customers and Communities
SACRAMENTO, Calif. – The California Bankers Association released the following statement today regarding California’s banks ongoing assistance and outreach efforts during the COVID-19 crisis.
“California’s banks remain deeply committed to supporting their customers and communities who have been affected by the coronavirus (COVID-19) pandemic. Since the beginning of this emergency, banks have been outreaching and working proactively and constructively with customers to minimize the adverse financial effects on our communities as we navigate through this crisis together.
“California banks are in the business of serving their customers, especially when hardship strikes. The industry is well positioned to assist their customers and many have been offering a variety of support to individuals and small business owners. Examples of assistance include fee waivers; deferred payments for credit cards, auto loans and mortgages; loan modifications; low-rate and zero-rate loans and other accommodations.
“A resource prepared by the American Bankers Association, that refreshes periodically, identifies a sampling of banks and their efforts to provide relief.
“As the pandemic evolves, California banks will explore every option to assist borrowers during this challenging period.
“In addition to supporting customers, California banks are providing philanthropic donations to charitable organizations that provide important relief during emergency situations. Since it is uncertain how long this pandemic will last, banks will adjust their operations to meet the needs of their staff, customers and the communities they serve.
“Our member banks realize that the economic challenge facing the country from this public health emergency is significant. The current economic slowdown will be painful for individuals and businesses alike, including some banks and their staff. But we will meet, and get through, this challenge together.”