March 11, 2020
Archibald writes to banks about financial impact of coronavirus

Sinn Féin Economy Spokesperson, Caoimhe Archibald MLA, has written to a number of banks in the north requesting measures to be offered to customers who may be affected by the Coronavirus.

Caoimhe Archibald said:

“I have written to a number of the banks in the north requesting that they consider a range of options to help customers who may be affected by the Coronavirus in the coming weeks and months.

“Depending on the spread and impact of Coronavirus, large numbers of workers may suffer from reduced incomes and financial difficulty through either sickness or potential job losses.

“It is essential that all institutions play a role in addressing this as we face this challenge together, that must include our banking sector.

“Many customers may be affected by these developments, with a consequent impact on their ability to meet mortgage repayments, and indeed other costs, in the coming months.

“Measures could include without being confined to: providing facilities that would allow customers to defer mortgage repayments for a period of up to three months and refunding or removing some fees to access credit or savings for a fixed period of time.

“As we face this challenge together, it is crucial that all of our institutions play their part to ensure that our families and communities are as prepared and protected as possible.” 

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