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Bank of America Offers Assistance Program After Hurricane Sandy

The bank notified customers that it is launching an assistance program to help those in need of financial assistance in the wake of the storm.

Banks are continuing to deal with the effects of Hurricane Sandy's devastation on the East coast. Charlotte, N.C.-based Bank of America informed customers today that it would be launching a customer assistance program for its customers who were caught up in the storm's wreckage.

The program, according to a statement released by the bank and emailed to customers today, will include credit line increases for those needing help to pay for damages. The bank said it would offer credit line increases for current Bank of American Visa and MasterCard cardholders. Customers in need will also be offered the option to modify or extend payments that they owe on loans, credit cards or lines of credit. Special assistance will be provided for customers with lost or missing Bank of America cards, or late loan or card payments.

See Related: Social Media Helps Banks Communicate with Customers Affected by Hurricane

The bank is also waiving early withdrawal fees for customers who want to take CD's and offering a refund on overdraft, non-sufficient funds and non-Bank of America ATM fees resulting from the hurricane.

The bank said that customers contact its call center or go to a branch to access the program. The bank has been updating its online branch locator to show current branch openings and closures. Lastly, Bank of America pledged $1 million towards the relief effort for areas affected by the storm.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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