JP Morgan Announces Coronavirus Relief Package For Customers

JP Morgan Chase & Co-Chief Executive Officer Jamie Dimon said on Monday the bank would extend benefits to customers who have been hurt by the ongoing coronavirus crisis by introducing measures such as waivers for late fees and a 90-day grace period for mortgage and auto loan payments.

In his annual letter to shareholders, Dimon also highlighted several challenges that the largest U.S bank is currently facing, saying that the bank's call centers have struggled in the current environment, with many of them effectively shutting down due to local restrictions.

"We are working closely with all levels of government during this crisis — and while we will participate in government programs to address the severe economic challenges, we will not request any regulatory relief for ourselves," Dimon said.

(Reuters)