Bank of America Announces Expanded Aid to Southern California Fire Victims.SAN DIEGO--(BUSINESS WIRE)--Oct. 24, 1996--Bank of America today announced additional actions to help customers affected by the devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. fires in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Orange and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. counties. In addition to the $50,000 donation to the American Red Cross American Red Cross: see Red Cross. announced earlier, the bank will: -- Make available a special home equity loan program for customers whose homes were affected by the fires. Under this program, homeowners may borrow from $7,501 to $25,000 for 90 days at preferential pricing, with no fees or points, to handle their immediate financial needs. -- Make available personal loans for customers affected by the fires. Loans from $1,000 to $7,500 will be available with no points or fees and may be used by homeowners or renters to help reestablish their residences. -- Offer special assistance to BofA consumer loan customers affected by the fires by extending or revising their loans. For the next 90 days, there will be no late charges on these loans and no charges for extensions or revisions. In addition, BofA home loan customers affected by the fires will be eligible for up to a three-month moratorium on their monthly payments without being subject to any late charges. -- Provide emergency credit line increases to BankAmericard VISA and MasterCard customers who are fire victims, as well as delaying upcoming monthly payments. -- Waive all early withdrawal penalties on time deposits and individual retirement accounts for fire victims who wish to withdraw funds from these accounts. Additional information about the special loan programs is available from BofA branches in affected areas in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, or by calling 1-800-227-9286. Current home loan customers can call 1-800-462-0505 for assistance. Current consumer loan customers can call 1-800-552-5203 for assistance with their existing loans. BankAmericard VISA and MasterCard borrowers may request emergency credit line increases by calling 1-800-227-5458. Customers who anticipate difficulty in making a bankcard bank·card n. A card issued by a bank authorizing the holder to receive bank services and often functioning as a debit card. payment may request that their payment be skipped for one month by calling 1-800-582-4332. CONTACT: Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Lisa Margolin-Feher, 619/549-7405 Cary Walker, 213/228-2558 |
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