-Banks and insurers to help Hurricane Sandy victims.
Global Banking News - 02 November 2012
Banks and insurers are announcing measures such as waivers on late fees and credit line increases, to facilitate victims of Hurricane Sandy.
The announcement of the waiver of non-bank ATM fees, overdraft fees and returned item fees, in situations due to the storm, have been made by TD Bank (NYSE:TD), Sovereign, Citizens (NASDAQ: CRBC) and Bank of America (NYSE:BAC). Conditions such as the inability to use online banking or lack of accessibility to a bank ATM's due to the storm, would make the consumer eligible for the waiver.
Some banks have also made donations to the storm relief fund. These include TD Bank Group and Charitable Foundation's USD500,000 to the American Red Cross, and Bank of America Foundation's USD1bn donation.
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