Support for LAist comes from
Made of L.A.
Stay Connected

Share This


Gov. Newsom: Major Banks Agree To 90-Day Mortgage Waivers — Except Bank Of America

Support your source for local news!
The local news you read here every day is crafted for you, but right now, we need your help to keep it going. In these uncertain times, your support is even more important. Today, put a dollar value on the trustworthy reporting you rely on all year long. We can't hold those in power accountable and uplift voices from the community without your partnership. Thank you.

Four out of the five largest banks have agreed to a 90-day waiver for residential mortgage payments for those impacted by coronavirus, California Gov. Gavin Newsom said in a Wednesday press conference. He noted that one bank has declined at this time to do so: Bank of America, which would only agree to 30 days.

Newsom said that he hoped that Bank of America would reconsider and join Wells Fargo, U.S. Bank, Citibank, and JPMorgan Chase.

As of Wednesday morning, 2,535 Californians had tested positive for coronavirus, Newsom said. That's a 17 percent increase from the day before, with 53 dead at this point. There have been 66,800 coronavirus tests conducted in the state so far.

Support for LAist comes from

When asked about a potential statewide moratorium on evictions for renters, Newsom said that the state reserves the right to look at measures if action isn't taken on the local level. He said that the state is looking at the legal parameters around the issue and that they hope to have clarity on the next steps in the next day or two.

When asked about whether gun stores should be considered essential businesses, Newsom said he would defer to local sheriffs on the issue.

More than 1 million Californians have filed for unemployment benefits this month, Newsom said.

Newsom specifically thanked Los Angeles and Sacramento for identifying sites for trailers being sent by the state to house homeless residents at this time.


We're all living through this extraordinary and frightening pandemic. The vast majority of our newsroom has been working from home (here's some advice on that) since March 11 to bring you calm, helpful reporting. We are answering your questions and taking more.

We're here to help. And if you can help support that effort financially, we'd be grateful.

Most Read