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Banks get outfront of coronavirus woes, may offer customers breaks


The coronavirus outbreak is spreading and now we’re looking at a potential financial threat to everyday consumers.

Banks and the federal government are increasingly recognizing this reality. It’s not just about stocking up on hand sanitizer and toilet paper. It may indeed be about preparing to pay your bills. 

Citi, for example, reached out to its credit card customers via email to address concerns about COVID-19.

Among other things, Citi encouraged customers to access their accounts from home 24/7 to manage their money digitally. And if customers faced a loss of income, perhaps due to a temporary shutdown at a brick-and-mortar store or factory, Citi said it was ready to offer its support and “dedicated assistance” programs. 

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