Fulton Bank recently agreed to join the PA CARE Package, the state’s consumer relief initiative.
The initiative requires banks and financial institutions to work with the Office’s Bureau of Consumer Protection to offer consumer protections during the COVID-19 pandemic and to
comply with the CARES Act.
Banks and financial institutions participating in the initiative must offer additional assistance to customers facing financial hardship as a consequence of the pandemic. This includes expanding small and medium business loan availability; offering a 90-day grace period for auto loans and mortgages not already covered by the CARES Act’s 180-day grace period; offering a 90-day window for relief from fees and charges; issuing a 60-day moratorium on foreclosure, eviction, and motor vehicle repossession; and offering no adverse credit reporting for accessing relief on consumer loans.
“We commend Attorney General Josh Shapiro and the commonwealth for launching this program so we can serve as a united front to address the needs of those impacted by the COVID-19 pandemic,” Fulton Bank Chairman and CEO Curt Myers said. “Fulton Bank is dedicated to continuing to offer a variety of solutions to help affected individuals, families, and businesses during this challenging time.”
The bank’s customer programs align with the initiative, Myers said.