Bank of America is letting customers request to defer payments on mortgages and small business and auto loans in light of the coronavirus pandemic
The bank made the announcement on Thursday as part of additional support measures it is providing to its customers. It indicated small business and consumer clients could request payment deferments, with the missed payments added to the end of the loans. Bank of America said there would not be"negative credit bureau reporting for up-to-date clients.
"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."Banks in Europe will delay mortgage payments for coronavirus victimsThe bank also said it has temporarily paused foreclosure sales, evictions and repossessions.
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