California Governor Says 4 Banks To Waive Mortgage Fees

People walks along Zuma Beach, Monday, March 23, 2020, in Malibu, Calif. Officials are trying to dissuade people from using the beaches after California Gov. Gavin Newsom ordered the state's 40 million residents to stay at home indefinitely. His order restricts non-essential movements to control the spread of the coronavirus that threatens to overwhelm the state's medical system. (AP Photo/Mark J. Terrill)
People walks along Zuma Beach, Monday, March 23, 2020, in Malibu, Calif. Officials are trying to dissuade people from using the beaches after California Gov. Gavin Newsom ordered the state's 40 million residents to stay at home indefinitely. His order restricts non-essential movements to control the spread of the coronavirus that threatens to overwhelm the state's medical system. (AP Photo/Mark J. Terrill)

By ADAM BEAM Associated Press

SACRAMENTO, Calif. (AP) — This is a breaking news update. AP’s original story is below:

California Gov. Gavin Newsom says four of the nation’s largest banks have agreed to temporarily suspend mortgage payments for those affected by the coronavirus.

Wells Fargo, US Bank, Citi and JP Morgan Chase have all agreed to waive mortgage payments for 90 days, Newsom said. Bank of America has agreed to a 30-day suspension, he said.

More than 1 million Californians have filed for unemployment benefits since March 13.

The news comes after Congress reached a deal with the Trump administration on a stimulus package that will increase unemployment benefits by an $600 per week on top of what the state provides.

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