Citigroup waives some fees for U.S. consumers impacted by coronavirus
By Imani Moise and Michelle Price
Citigroup Inc (C.N) said on Friday it would waive some fees and offer other assistance for U.S. consumers and small businesses impacted by the coronavirus. Effective Monday, impacted customers will be eligible to have monthly bank account fees and certificate of deposit penalties waived. Citigroup said it would also provide hardship programs and additional small-business support, such as extended banker availability. …“Another week or so of growing COVID-19 contagion, canceled events, foregone travel and shuttered businesses will lead to waves of delinquent debt from Americans with no other choice,” said Karen Petrou, managing partner of Federal Financial Analytics. “One longstanding lesson of economic history is that liquidity crises descend into solvency debacles if not quickly resolved.”