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JPMorgan and Bank of America Offer Mortgage Relief After Wildfires

1/14/2025

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Summary

Story summary

JPMorgan Chase and Bank of America are providing mortgage relief for wildfire-affected customers in Los Angeles.
Chase's disaster forbearance enables borrowers to pause or reduce their payments.
The wildfires have caused at least 24 deaths and extensive damage.
Experts emphasize the importance of banks addressing climate risk proactively.

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Story summary

JPMorgan Chase and Bank of America are providing mortgage relief for wildfire-affected customers in Los Angeles.
Chase's disaster forbearance enables borrowers to pause or reduce their payments.
The wildfires have caused at least 24 deaths and extensive damage.
Experts emphasize the importance of banks addressing climate risk proactively.