In this pandemic or Coronavirus crisis, millions of Americans are not able to pay their bills.
In the end, numerous Financial institutions of States, including Ally Financial, Bank of America, Citi, Fifth Third Bank, and Goldman Sacs have taken steps to offer some financial support and assistance for customers who are affected by COVID-19.
The hardship program launched in March by Goldman Sachs’, now more than 100,000 customers had enrolled in the program according to the head of the bank’s customer business in the America Omer Ismail.
The program helps its customers by postponing loan payment for a month with zero interest and no added charges.
A similar offering by Goldman Sacs’ to the Apple cardholders by helping them to skip a payment without any incurring interest or any other added charges.
Similarly, many other banks are offering help to its customers by offering financial aid to those who are experiencing this COVID-19 economic turmoil.
Since the pandemic or this COVID-19 virus is far from over, Ismail said, the bank is pondering to extend this program for at least four months.
“We know that this is a tough time for many, and we want to make sure that those that have been impacted by the pandemic have this program available,” he said.