CIBC is extending relief programs as well as adding a new escrow deferral component for CIBC Bank USA consumer clients as the economic effects of the pandemic continue to present financial hardships for many.
CIBC offers U.S. consumer clients the following relief options:
- Loan payment deferral for 4 monthly payments or 1 quarterly payment, depending on the consumer’s payment schedule
- Foreclosures and evictions suspended until September 18, 2020
- Waiving overdraft and non-sufficient funds fees on deposit accounts, and early withdrawal penalties on Certificates of Deposit
- Economic Hardship Loan for consumer clients who have had an account with CIBC Bank USA for at least 30 days. Offers a loan up to $10,000 with no payments or interest for the first 90 days
- New: Escrow Deferral Relief Program to coincide with a client’s loan payment deferral
“We know these are challenging times as families continue to face unemployment or reduced wages,” said Michael G. Capatides, Senior Executive Vice-President and Group Head, CIBC U.S. Region, and President and CEO, CIBC Bank USA. “As your bank, we are committed to helping you navigate through this period and have put these relief programs in place to provide you with critical support.”
For questions on our relief programs, please call our Client Support Center at 877-448-6500Opens your phone app. or visit one of our CIBC Bank USA locations.