Bank of America Announces Additional Support for Consumer & Small Bus. Clients Experiencing Hardship From the Impact of the C...
March 19 2020 - 5:18PM
Business Wire
Bank of America today announced additional support for its 66
million Consumer and Small Business clients in response to the
unprecedented challenges of the coronavirus. The company is
offering assistance to clients through its Client Assistance
Program and continuing to provide access to the important financial
services on which these clients rely.
“Our clients rely on us every day and for every aspect of their
financial lives,” said Dean Athanasia, president of Consumer and
Small Business at Bank of America. “We’re going to continue to
provide convenient access to the important services they count on,
and the additional assistance and support they need during this
difficult period. Our priorities are taking care of our team and
each other, and continuing to fulfill our fundamental role serving
our clients.”
Working on a case-by-case basis, as we’ve done in many other
situations including the government shutdown and natural disasters,
Bank of America’s additional assistance for clients impacted by the
coronavirus includes:
- Consumer and Small Business deposit accounts: clients can
request refunds including overdraft fees, non-sufficient funds
fees, and monthly maintenance fees.
- Consumer and Small Business credit cards: clients can request
to defer payments, refunds on late fees.
- Small business loans: clients can request to defer payments,
refunds on late fees.
- Auto loans: clients can request to defer payments, with
payments added to the end of the loan.
- Mortgages and home equity: clients can request to defer
payments, with payments added to the end of the loan.
- In all of these instances, there will be no negative credit
bureau reporting for up-to-date clients.
- We have also paused foreclosure sales, evictions and
repossessions.
All Bank of America teammates who work with clients are trained
to identify and assist impacted clients and provide the right
support to address their unique needs. Clients facing financial
hardships related to the coronavirus are encouraged to visit the
company’s Client Resources website and contact the client services
team for assistance.
Bank of America understands the critical role financial services
plays in the daily lives of individuals and small businesses, and
is dedicated to maintaining reliable access to all of our
capabilities, whether clients choose to manage their finances
digitally, over the phone or in person.
- Bank of America’s full range of banking solutions is also
available through Online Banking and the company’s mobile app.
These channels offer convenient and secure ways to check account
status, pay bills, transfer/send money and deposit checks at any
time and from almost anywhere. Within the mobile app, Erica, the
company’s virtual financial assistant, is there to help.
- All of Bank of America’s 4,300 financial centers across the
country have an external ATM with 24-hour access; approximately
3,000 (70 percent) have drive-up ATMs; and approximately 400 have
drive-up client service representatives available to serve clients.
Clients can use Bank of America’s interactive Financial Center and
ATM Locator to sort and filter nearby financial centers to match
their needs – whether that’s the closest drive-up ATM or financial
centers open on Saturdays. Clients can also schedule an appointment
to connect in person with one of our specialists.
- For clients who prefer or need to visit a financial center, the
company is taking proactive steps to protect clients and teammates,
including enhanced cleaning procedures throughout each day and
other measures to limit the risk of exposure, based on
recommendations from the Centers for Disease Control (CDC).
Bank of America
Bank of America is one of the world’s leading financial
institutions, serving individual consumers, small and middle-market
businesses and large corporations with a full range of banking,
investing, asset management and other financial and risk management
products and services. The company provides unmatched convenience
in the United States, serving approximately 66 million consumer and
small business clients with approximately 4,300 retail financial
centers, including approximately 2,800 lending centers, 2,600
financial centers with a Consumer Investment Financial Solutions
Advisor and 2,000 business centers; approximately 16,800 ATMs; and
award-winning digital banking with approximately 38 million active
users, including approximately 29 million mobile users. Bank of
America is a global leader in wealth management, corporate and
investment banking and trading across a broad range of asset
classes, serving corporations, governments, institutions and
individuals around the world. Bank of America offers
industry-leading support to approximately 3 million small business
owners through a suite of innovative, easy-to-use online products
and services. The company serves clients through operations across
the United States, its territories and approximately 35 countries.
Bank of America Corporation stock (NYSE: BAC) is listed on the New
York Stock Exchange.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for news email alerts.
www.bankofamerica.com
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version on businesswire.com: https://www.businesswire.com/news/home/20200319005821/en/
Matt Card, Bank of America, 1.617.434.1388
matthew.card@bofa.com
Bill Halldin, Bank of America, 1.916.718.1251
william.halldin@bofa.com
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