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Fifth Third Bank announces additional hardship relief

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Contributed by Fifth Third Bank

Fifth Third Bank, National Association, has 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 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: The bank is offering a payment deferral for up to 90 days and no late fees during the deferral period. 
  • Credit Card Deferral Program: The bank is offering a payment deferral for up to three payments and no late fees during the deferral period.
  • Mortgage and Home Equity Program: The bank is offering 90-day payment forbearance with no late fees. 
  • Small Business Payment Deferral Program: The bank is 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: The bank is offering to waive fees for up to 90 days for a range of consumer and small business deposit products and services.
  • The bank is suspending initiating any new repossession actions on vehicles for the next 60 days.
  • The bank is suspending all foreclosure activity on homes for the next 60 days.
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