Bank of America (BOA) has decided to roll out additional support for clients and small business clients in the US facing difficulties due to outbreak of the deadly coronavirus (Covid-19).
According to data provided by John Hopkins University, there are more than 10,000 confirmed cases of the virus in the US as of 19 March.
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Overall, the banking group has approximately 66 million consumer and small business clients in the US.
Bank of America president of consumer and small business Dean Athanasia said: “Our clients rely on us every day and for every aspect of their financial lives.
“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.”
Additional assistance offered for clients impacted by the coronavirus includes refunds of overdraft fees, non-sufficient funds fees, and monthly maintenance fees.
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By GlobalDataThe bank said that clients can request to defer payments and refunds on late fees.
The programme also assures impacted clients that there will not be any negative credit bureau reporting.
The bank has also decided to pause foreclosure sales, evictions and repossessions.
Bank of America consumer banking head Aron Levine said: “We tailored these options to provide personalized assistance to our clients who are affected by the federal government shutdown.
“Our Client Assistance Program specialists are there and they are helping people every day to get through this situation.”
The bank has 4,300 financial centres across the US with 24-hour external ATM access. It has drive-up ATMs at 3,000 centres and drive-up representatives are available at nearly 400 centres.
BOA offers its Financial Center and ATM Locator solution, which the clients can use to find nearby centres, check if they are open and schedule an appointment.
