California Governor Gavin Newsom said on Wednesday that he has an agreement from four of America's five biggest banks to temporarily suspend mortgage payments for people who have been financially hurt by the coronavirus. Newsom says Wells Fargo, US Bank, Citi, and JP Morgan Chase have all agreed to waive mortgage payments for the next 90-days. He seemed slightly disappointed that Bank of America would only commit to a 30-day suspension, but he hopes they'll eventually agreed to match the other banks.
The governor also noted that over one-million Californians have filed for unemployment benefits since March 13, when a greater number of businesses began to close their doors and send workers home in an effort to slow the spread of coronavirus. The federal government was reportedly close to finishing touches on a stimulus package that includes an increase in unemployment benefits by an $600 per week on top of what California provides.
When it comes the health care portion of the response to coronavirus, Newsom said Seton Medical Center in Daly City will begin accepting up to 220 COVID-19 patients. California is leasing the medical center for three months to increase the number of beds for treatment of patients now and during an an anticipated spike in COVID-19 cases that require medical care. The Seton Medical Center will be run by Verity on behalf of the state.
White House Coronavirus Task Force Briefing For Wednesday
By Tim Lantz, iHeart Media