California Governor Gavin Newsom reported Wednesday that 1 million residents have filed for unemployment since March 13.
With unemployment skyrocketing and individuals struggling to make ends meet, Newsom said four of the nation’s largest banks have agreed to temporarily suspend mortgage payments for those affected by the coronavirus.
Wells Fargo Citibank, JP Morgan Chase and US Bank have all agreed to the 90-day grace period.
“Unfortunately Bank of America didn’t publicly commit to that,” Nesom said during a press conference. “They committed to just 30 days. I hope they will reconsider.”