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Thursday, March 28, 2024
HomeNewsArchivesBANKS TO WAIVE LATE FEES FOR 2 WEEKS

BANKS TO WAIVE LATE FEES FOR 2 WEEKS

All Virgin Islands banks will waive late fees on loans and mortgages for two weeks until April 22, according to Gwen Adams, president of the V.I. Bankers Association.
The reprieve is in response to Gov. Charles W. Turnbull's announcement late Tuesday that payment of the government's biweekly payroll has been deferred for a week.
The bank's fee waiver will be granted only to customers who are current on their loans, Adams said, adding that the banking institutions recognize "their obligation as good corporate citizens to assist Virgin
Islanders…who will suffer hardships due to the local government's present financial plight."
The waiver of late fees on installment and mortgage loans is extended to all customers of the banks, according to the release, not just government employees.
"Bank customers who have questions relative to the two-week waiver of late fees are urged to contact their local bank branch," Adams said.

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