Bank of America CEO Says Half a Million Customers Have Deferred Payments
- ‘We’re working with customers who need help,’ Moynihan says
- Bank receives 85,000 requests from businesses for $22 billion
Photographer: Mark Kauzlarich/Bloomberg
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Half a million of Bank of America Corp.’s 66 million customers have deferred loan payments because of financial fallout from the coronavirus.
“The idea is to defer the payment, defer the impact,” Chief Executive Officer Brian Moynihan said in an interview Friday on CNBC. “We’re working with our customers who need help, who are losing their jobs. We have to preserve their ability to have cash flow.”