Citi to Waive Fees for Retail Customers Affected by Coronavirus
Citi to Waive Fees for Retail Customers Affected by Coronavirus
(Bloomberg) -- Citigroup Inc. said it would waive monthly service fees and some early-withdrawal penalties for retail customers affected by the coronavirus, the latest move by a major U.S. bank in response to the spread of the illness.
The company also said Friday it will make its bankers available after hours and on weekends for support of small businesses affected by the virus, also known as Covid-19. Citigroup, the world’s largest credit-card issuer, also said it has in place assistance programs for eligible customers, including credit-line increases and collection forbearance.
“This is a rapidly evolving situation,” Anand Selva, chief executive officer of Citigroup’s U.S. consumer bank, said in a statement. “We continue to monitor developments closely and will evaluate additional actions to support our clients and communities as needs arise.”
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To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Daniel Taub, Katherine Chiglinsky
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