Fifth Third Bank, National Association, today provided additional detail on immediate steps it is taking to help customers impacted by the coronavirus, augmenting its prior announcement last week to include new customer-centric provisions.
“Fifth Third’s focus on helping customers improve their lives and building stronger communities is more relevant than ever during these times of uncertainty,” said Greg D. Carmichael, Fifth Third chairman, president and CEO. “We take our role and responsibility seriously to understand and put our customers’ needs first. We are continually evaluating our programs to assist our customers. Last week, we announced several proactive measures that we are taking across our business and consumer products to help lessen the financial strain on our customers, and we are providing additional details on these programs today. Our goal is to stand with our customers to help them and our communities get back on their feet. We are here to help our customers when they need us most.”
Fifth Third is offering the following programs for our consumer and business customers facing financial hardship related to COVID-19. To participate in the programs, customers will need to contact Fifth Third.
- Vehicle Payment Deferral Program: We are offering a payment deferral for up to 90 days and no late fees during the deferral period.
- Credit Card Deferral Program: We are offering a payment deferral for up to three payments and no late fees during the deferral period.
- Mortgage and Home Equity Program: We are offering 90-day payment forbearance with no late fees.
- Small Business Payment Deferral Program: We are offering a payment deferral program for up to 90 days, no late fees and a range of loan modification options. We are waiving all fees on our Fifth Third Fast Capital loans for 6 months.
- Fee Waiver Program: We are offering to waive fees for up to 90 days for a range of consumer and small business deposit products and services.
- We are suspending initiating any new repossession actions on vehicles for the next 60 days.
- We are suspending all foreclosure activity on homes for the next 60 days.
Fifth Third recommends that customers continue to leverage all of the digital banking tools and resources for self-service banking and account access through mobile, online and voice banking services, as well as the Bank’s network of approximately 53,000 fee-free ATMs across the United States.
For more information visit www.53.com or call 800-972-3030.