California Banks Agree to 90-Day Mortgage Grace Period for Coronavirus Relief
California Gov. Gavin Newsom struck a deal with several major banks in the state to suspend mortgage payments for 90 days for those impacted by the coronavirus crisis.
Four of the five largest banks in the state -- Citigroup (NYSE: C), JPMorgan Chase (NYSE: JPM), U.S. Bancorp (NYSE: USB), and Wells Fargo (NYSE: WFC) -- all agreed to provide a three-month grace period for mortgage payments. Also, nearly 200 state-chartered banks and credit unions have agreed to do the same.
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Source Fool.com
