Gov. Gavin Newsom Announces Five Major Banks Won’t Collect Mortgage Payments From Those Affected By Coronavirus Quarantine

California Gov. Gavin Newsom announced Wednesday that five major U.S. banks will temporarily suspend home mortgage payments for people who have been affected by the coronavirus quarantine.

The Associated Press reported that Wells Fargo, U.S. Bank, Citi, and JP Morgan Chase would “defer mortgage payments for three months,” and that state “chartered banks and credit unions will offer similar deferrals.”