CALIF. GOVERNOR REACHES DEAL WITH BANKS TO TEMPORARILY SUSPEND MORTGAGE PAYMENTS
California Governor, Gavin Newsom reached a landmark deal with Wells Fargo, JP Morgan Chase, Citibank and US Bank - along with 200 state chartered banks and credit unions to delay mortgage payments and suspend foreclosures by 90 days, as the state continues to battle the Coronavirus outbreak. Bank of America, however, agreed only to suspend and delay payments/foreclosures for up to 30 days, he said. The deal, he said, only applies to California customers who have been directly impacted by the pandemic and its economic fallout.