BofA Announces Special Programs For Alaska Fire Victims.ANCHORAGE Anchorage (ăng`kərĭj), city (1990 pop. 226,338), Anchorage census div., S central Alaska, a port at the head of Cook Inlet; inc. 1920. , Alaska--(BUSINESS WIRE)--June 6, 1996--Bank of America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. today announced a series of actions to help those individuals affected by the forest fire in Alaska, including special loan programs, assistance for existing customers and employees, and a toll-free number affected customers may call for information. 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. also announced that it will donate $10,000 to the South Central Chapter of the American Red Cross American Red Cross: see Red Cross. to support its relief efforts for fire victims. "We have been monitoring the fire danger closely and want to assist where we can," said Bank of America Alaska Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Rick Larson. "We're concerned about our customers, these communities and our employees in the area. We are taking some immediate practical steps to help in this difficult situation." For customers in areas which have been declared a federal or state disaster, the bank will: -- Make available personal loans for those affected by the fires. Loans from $1,000 to $25,000 will be available at a special low rate and will have no points or fees. -- Make available a payment moratorium A suspension of activity or an authorized period of delay or waiting. A moratorium is sometimes agreed upon by the interested parties, or it may be authorized or imposed by operation of law. of up to three months for BofA home loan customers, with no late charges applying during this period. -- Offer special assistance to BofA customers affected by the fires by extending or revising their loans. -- Waive To intentionally or voluntarily relinquish a known right or engage in conduct warranting an inference that a right has been surrendered. For example, an individual is said to waive the right to bring a tort action when he or she renounces the remedy provided by law for such all early withdrawal penalties on time deposits and individual retirement accounts for fire victims who wish to withdraw funds from these accounts. -- Provide small business customers with payment deferrals on existing loans, reduced rates and fees, and flexible repayments terms. In addition, special reduced rate loans and lines of credit will be available with streamlined processing. In addition, the bank has a special employee-assistance program for BofA employees affected by the fire. Additional information about Bank of America's special loan programs is available by calling 1-800-774-7776. CONTACT: Bank of America Betty Riess, 415/622-6397 |
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