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

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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.

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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.


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