. >> i am very pleased that wells fargo u.s. bank on a city and jpmorgan chase have all grade to a 90 degree lips as 90 day waiver of payment for those that have been infected>>> to wait until you've artie rest of you. it can't come force in a firmly >>> online bay area counties yesterday announced they are extending public school closures until at least may first. that means more than 860,000 students will have to stay at home longer in an effort to curb the spread of the coronavirus for this one a chance that the schools will remain closed for the rest of the academic year. >>> here is another look at the bay area counties effective meanwhile, at least high school sports league and santa clara county is canceled its entire spring season.>>> this morning. this is a hundreds of military been sent forward. only near naval base officials say the convoy was a routine movement of supplies.>>> new york is the biggest area of concern, as he now has more than 30,000 for move virus cases >>> experts say it is partially due to the greater tes

governor newsom saying wells fargo, u.s. bank, citi and jpmorgan chase will defer patients for people who have lost their jobs or gotten sick. bank of america will also do the same, but their grace period is 30 days. some other notes from the governor's briefing. more than 1 million californians filed for unemployment in the last 12 days. the new numbers show that 51% of californians who tested positive for covid-19 are between the ages of 18 and 49. 37 people under the age of 17 have tested positive in california. >> we can defeat this virus, but we can't defeat it unless we commit to fulfilling our individual obligations and our collective responsibilities to meet this moment. >> we could have several more weeks of this process of sheltering at home. one other note, more than 24 million of those m-95 masks have been distributed across california. another 100 million are on the way. >>> maps until may 4, when thousands of kids across six bay area counties can be back in school. that announcement this afternoon to continue to sto

. >>> i'm very pleased that wells fargo u.s. bank city and j.p. morgan chase have all agreed to 90 day waiver of payments for those that have been impacted by covid-19. >>> still many bay area workers are at risk of taking a financial hit. if they get sick. lynn ramirez on a plan to protect them. >> reporter: many workers don't have extended sick leave benefits. under these conditions if somebody is sick the city wants to make sure they can afford to stay home. >>> and estimated 85% of san jose workers don't have any paid sick leave with women blacks and latinos particularly at risk the mayor said that is a big concern during the coronavirus outbreak. >>> many other restaurants where we know if people are sick they may be working preparing food. and spreading a virus. it is important everyone feel they have the choice to be able to stay home. without financial risks to themselves. >> reporter: unlike other cities in the state san jose has no mandatory sick leave requirements for businesses. workers are covered under california law but only for thr

. >> and i'm very pleased that wells fargo, u.s. bank, city and jp morgan chase have all agreed to 90-day waivers of payment for those impacted by covid-19. >> officials say you should still contact your lender immediately experie financial hardship. don't wait until you've already missed a payment. it can't come soon enough for many in california. governor newsom says that more than 1 million people have applied for state unemployment benefits this week alone because of lay offs and reduced hours. >>> after days of negotiation and flaring tempers, the senate has approved a $2 trillion economic stimulus package to help workers and businesses in pacted by the coronavirus. reporter natalie brand is at the white house with more on the late night vote. >> reporter: congress is one step closer to sending financial relief to american families and businesses hit hard by the coronavirus. the senate has approved a $2 trillion relief package this evening. >> we're going to pass this bipartisan relief package, send it over to the house so they can

. >>> i'm very pleased that wells fargo u.s. bank city and j.p. morgan chase have all agreed to 90 day waiver of payments for those that have been impacted by covid-19. that is an important point to make. it is significant that we have some consistency. it is significant we don't have a patchwork one bank to another.>> reporter: and smith would like the release to go further. >>> i appreciate with the government has to offer. if you want to really make a difference you will put a moratorium on evictions. i could find another job. the housing situation for my kids we cannot mess up. >> reporter: all of those banks that governor new summit mentioned agreed to 90 days of a mortgage moratorium. bank of america which was founded in san francisco has only agreed to 30 days. so far. >>> tonight the san jose city council is considering old action. it wants employers to give all workers in the city two weeks of paid leave if they get sick. unlike other large cities in the state san jose has no mandatory sick leave requirements for businesses. an estimated

. >>> i am very pleased that wells fargo u.s. bank city and j.p. morgan chase have all agreed to 90 day waiver of payments for those that have been impacted by covid-19. that is an important point to make. it is significant. that we have some consistency. it is significant we don't have a patchwork one bank to another. >>>>> reporter: kelly set that could bring relief for his family. >>> it will help for temporary 90 days. depending on the coronavirus will be taken care of within the next few months. everything is on surety right now. it could go on for the next half a year. hopefully everything will get better.>> reporter: bank of america so how far has only agreed to with the state of california a 30 day moratorium on mortgages. he hopes they will agree to a longer stent like some of the other banks. of course the government package on the federal level still has to make it to the senate. we have not seen a vote at this point. >>> in fact let's take a live look at capitol hill where the standoff has emerged this afternoon. threatening to hold up

during the governor's news conference today he said that wells fargo, u.s. bank and citi and j.p. morgan chase will wave mortgage payment force 90 days for people who have either lost their jobs or gotten sick or both. bank of america will do the same but for 30 days. highlights from the briefing today, more than a million californians have filed for unemployment benefits in just the past 12 days. also, disconcerting numbers that show 51% of californians who have tested positive are actually between the ages of 18 and 49. 37 people under the age of 17 tested positive. >> we can defeat this virus, but we can't defeat it unless we commit to fulfilling our individual obligations and our collective responsibilities to meet this moment. >> another note, from the governor, more than 24 million n95 masks have been distributed across the state and another 100 million are on the way. >>> president trump and the white house corona task force held a briefing a couple of hours ago as well. the president lawded his administration's response to the man democratic and thanked the american people

want to record number as for banks wells fargo. u.s. bank city and j.p. morgan chase will defer mortgage payments up to 3 months according to a new some everyone is eligible for girl lists of how much they make the governor is criticizing bank of america for agreeing to waive mortgage payments for only one month he says he hopes they will reconsider and do the right thing but a spokesman for bank of america says they will consider extending their offer for more than 90 days depending on the crisis meantime cities and counties have begun halting new vixens against tenants who cannot afford their bridge in the san francisco and sacramento regions cities and municipalities have already passed you diction moratoriums that prevents anyone financially impacted by the virus from getting kicked out by their landlords. now california has seen an influx of one of our resources as more time soon is being done we're seeing numbers doubling some every 3 days and according to don there have been 65 deaths and more than 3000 infections counted so far the port in marina d

now, during his news conference today he said wells fargo, u.s. bank, citi, and jpmorganchase will give you a 90-day grace period to pay your mortgage. this is for people who have lost their jobs or become sick. b of a will do the same but for 30 days. now, the governor also revealed more than 1 million californians have filed for unemployment benefits in the past 12 days. >> we need to focus on those faces, on their stories, not just the face of government, not just the face of business but on the faces of individuals day in and day out that are struggling to make ends meet. >> one other note. more than 24 million of those n95 masks have been distributed across the state. another 100 million are on the way. >>> we're on till midnight. up next what a jogger says the men did when she told them to keep their distance from her. >>> and a doctor in the east bay may have found a way to make more medical masks. we'll show you. and also we have our friend jeff ranieri working from home, jeff. >> hey, guys. yes, we're holding down the weather fort here at home

approaching maceda $700000.00 more so we've done several times over that record number as for banks wells fargo u.s. bank city and j.p. morgan chase will defer mortgage payments up to 3 months according to a new some everyone is eligible for garlic of how much they make the governor is criticizing bank of america for agreeing to waive mortgage payments for only one month he says he hopes they will reconsider and do the right thing but a spokesman for bank of america says they will consider extending their offer for more than 90 days dip. on the crisis meantime cities and counties have begun hall to fictions against tenants who cannot afford their rent in the san francisco and sacramento regions cities and municipalities have already passed you fiction moratoriums that prevents anyone financially impacted by the virus from getting kicked out by their landlords. all right let's head over to regina ham over the sports h.q. regina there's no live sports really to talk about but it is throwback thursday so take us back i would love to go back and you know we're going to go back to a time when athletes played

approaching maceda 700000 more so we've done several times over that record number as for banks wells fargo u.s. bank city and j.p. morgan chase will defer mortgage payments up to 3 months according to a new some everyone is eligible for garlits of how much they make the governor is criticizing bank of america for agreeing to waive mortgage payments for only one month he says he hopes they will reconsider and do the right thing but a spokesman for bank of america says they will consider extending their offer for more than 90 days depending on the crisis meantime cities and counties have begun halting vixens against tenets who cannot afford their rent in the san francisco and sacramento regions cities and municipalities have already passed a vixen moratoriums that prevents anyone financially impacted by the virus from getting kicked out by their landlords. now california is seen an influx of qana virus cases as more testing is being done and we're seeing those numbers doubling every 3 days or so and according to john hopkins we've seen at least $65.00 deaths and at least 3000 infections have been coun

u.s. bank, wells fargo, a number of our nations largest institutions and state banks like east-west bank in california. some 200 state-chartered charter banks and credit unions have committed to the state of california that they will provide forbearance on foreclosures and on mortgage payments. that is significant. but the nationsbank, we were encouraged to do the same. i am very pleased that wells fargo, u.s. bank, city and j.p. citi and j.p.- morgan chase have all agreed to a 90 day waivers for those impacted by covid-19. that's an important point to make. it is significant we have some consistency. it is significant we don't have a patchwork one bank to another. that's what happened in 2008. credit unions and other state banks doing something different. we wanted to engage the nation's largest banks and see if we can create continuity and consistency. the five largest institutions committed to just that. unfortunately, bank of america did not publicly commit to that. they just committed to 30 days. i hope they will reconsider and join those other banks that are willing to do the right th

u.s. bank, wells fargo. r of a nation's largest institutions like east west bank here in the state of california. some 200 state charter banks and credit unions have committed to the state of california that they will provide fore baerns on foreclosures and on mortgage payments. that is significant. but the nation's bank as we were encouraged to do the same. and i'm very pleased that wells fargo, u.s. bank, citi and j.p. morgan chase have all agreed to 90 day waiver of payments to those that have been impacted by covid-19 and that's an important point to make. it is significant that we have some consistency. it's significant we don't have a patch of one bank to another. that's what happened in 2008. credit unions doing one thing, state banks doing something different. so we wanted to engage our nation's largest banks and see if we can create some continuity and consist ensy. and four of the five largest institutions committed to just that 90 day. unfortunately bank of america did not publicly commit to that.

bank much america, citibank, jpmorgan, goldman sachs, wells fargo, u.s. bank and truist. st, lead and bb&t, leaders from those banks will be present. the government is trying to hammer out the response to the coronavirus, the treasury secretary talked up the idea of potentially delaying the tax filing deadline. treasury secretary steve mnuchin saying up on capitol hill not only individuals might be able to ask for a delay, he went well beyond that as well. listen. >> for small and medium-sized businesses, for hard-working individuals, we are going to recommend to the president that we delay, we allow the delay and that they don't have to pay any interest or penalty on that. that will have impact of putting over $200 billion back into the economy, and that will create a very big stimulus. that will be very good for the individuals. it will be very good for the economy. reporter: senate democrats also released their economic relief measures. they say a package should include things like paid six days. six months loan forebearance, rental assistance and small businesses grant

. >> i'm very pleased that wells fargo, u.s. bank, it is citi and jp morgan chase have all agreed to a 90-day waiver for those impacted by covid-19. >> this 90-day delay is limited to more mortgage payments and foreclosures. note bank of america was not included there. it is agreeing to a 30-day delay. some 200 other smarter state banks and credit unions are also agreeing to 90 days. as far as a pause on evictions for renter, a lot of people worried about that, governor newsom says they are looking at the legal limits of stepping in if action isn't taken at the local level. >>> and the other major headline. >> that's right. shaking families up as schools in six bay area counties will remain closed until at least may 4th. the governor says this was likely, but still no less upsetting obviously for parents, students and teachers alike who want eventually to get back to their routine. laura anthony is live in lafayette to break all that down. laura? >> well, hi, dan. this was actually a joint decision among public health and school offi

the ceos of bank of america, citibank, jpmorgan, goldman sachs, wells fargo, u.s. bank and trust, no doubt discussing how stable the credit markets are and will be, or if and when the virus begins to stress the system. let us bring in right now the head of american securities associati association, ron kruszewski here in a fox business exclusive. ron, if you were in the room with the president right now, as many bank ceos are, what would you tell him that you are seeing right now? >> you know, some fear and some panic is certainly gripping the market. it appears that the impact on the market, i know the market's forward-looking but the impact on the market is much greater right now than the impact on the population of this virus. there's a lot of speculation as to how far this is going to go. what i'm trying to tell investors is remain calm. the u.s. people, the economy, is the most resilient in the world and this will pass. we need to have some calm here. liz: absolutely. absolutely. but i think we just need to hear from you what you are hearing from your loan customer

u.s. bank, wells fargo, and nearly 200 state charter banks, credit unions have all agreed to this 90-day grace period. they will waive late mortgage fees and other fees. if you're short on cash and need access to that. the banks agreed to north report late payments to credit agencies so no impact to your credit score. they've also agreed to no new foreclosures for 60 days. these relief measures were effective this past wednesday, march 25th. any late fees charged before then would still hold in theory unless you can convince your bank otherwise. this does not apply to commercial loans and does not apply to people who rent. renters are still on the hook unless you've made a special arrangement with your landlord. governor newsom did sign an executive order to give cities and counties permission to halt evictions during this outbreak. coming up at 6:30, the benefits you need to know about if you've unfortunately lost your job or had your hours reduced during this health crisis. reporting live, bob redell, "today in the bay." >> thanks so much, bob. 6:08. >>> a live look at sfo where the airport

wells fargo, city bank, jpmorgan chase and u.s. bank have agreed to a 90-day grace period for mortgage payments for those affected by the virus. bank of america offers 30 days. >>> >>> stocks ended the day mixed as the stimulus package stalled in washington. the dow closed up almost 500 points. the nasdaq was down 33. and the s&p 500 was up 28. >>> the united states has more than 1,000 deaths from coronavirus. and more than 68,000 confirmed cases. in california, 67 people died and more than 3,000 confirmed cases. santa clara county has the most cases. 84 new cases of coronavirus. a big jump. 17 people died in santa clara county, including a grandmother from san jose. ktvu's azenith smith is here now after talking with her family today. >> the family is devastated and heartbroken. the family wanted to show with every death there is a family grieving. >> reporter: the 65-year-old pictured on the left at a baby shower for her daughter. two weeks ago the baby was born. not too many pictures of them together. and there won't be. >> i kno

. >> wells fargo, citi bank, j.p. morgan chase, and u.s. bank. bank of america is offering 30 days and says that may even be extended from there. real estate agents say the coronavirus is changing the way they do business. they're seeing a sharp drop in the number of people looking for homes to buy and the shelter-in-place order makes house tours impossible. they're using video tours. that's all adding up to a market of people ready to buy now. >> we're seeing some cases where they're asking below the mooshgt price. >> now, some banks are finding they can't fulfill one of the requirements for most home loans. because many people who plan to sell their homes are calling the banks and cancelling their scheduled appraisals. they don't want any strangers in their homes right now. don't forget, you can find complete coverage at coronavirusnow.com. you'll find a daily live stream and live digital broadcast every weekday. that begins at 10:00 a.m. and you have our ktvu app anywhere you go with our free news app you can get the very latest updates and br

u.s. bank, wells fargo. a number of other of our nation's largest institutions and state banks like east-west baming here in the state of california. some 200 state charter banks and credit unions have committed to the state of california that they will provide forbearance on foreclosures and mortgage payments. that is significant. but the nation's banks we were encouraged to do the same. i'm very pleased that wells fargo, u.s. bank, citi and jpmorgan chase have all greed to 90 day waiver -- agreed to 90 day waivers of those who have been impacted. host: chris keen teen, what do you think about how washington has responded so far to this pandemic? caller: well, honestly i think that we need more leadership and the speed of what they are handling right now is just not accessible. we are behind the curve. they need to be a little bit faster. i'm watching the stimulus pack pack ang and i'm one of the people that applied for unemployment. i think that to identify who needs the money, waiting another month for me

. >> wells fargo, city bank, jpmorgan chase and u.s. bank agreed to a 90-day grace period for mortgage payments for thous affected by the virus. bank of america is offering 30 days. >>> the coronavirus pandemic is having an impact on the bay area real estate market. one san francisco agent says he has seen a drop in homes for sale. ktvu's amber lee with how the market shifted. >> the real estate agent tells me me 1,000 homes were listed for sale in san francisco last month, and now there are just 500 on the market. >> i am optimistic. like i said, i will love to have a -- you know, an opportunity -- >> reporter: the stunning view of san francisco is what the homeowner is banking on when he puts his unit on sale. it is under renovation. plans to put it on the market for $1 million next month. >> overnight it turned into a -- far more -- >> reporter: a real estate agent says it is a buyer's market. >> we are seeing where they are selling below the asking price. sellers just want to have the reassurance. >> mr. is plenty of scare shootage.

economic team as well will be meeting with the heads of the nation's 7 largest banks. 3:00 o'clock in the cabinet room. leaders of bank of america, citibank, jpmorgan, goldman sachs, wells fargo, u.sd emergency rate cut by the federal reserve and the administration formulating a stimulus package. the measures being talked about right now include potential payroll tax holiday through the end of the year, paid sick leave for those impact bid the coronavirus along with help for small and medium businesses in the form of loans and tax deferrals for distressed industries. president trump continues to push the fed for more rate cuts tweeting yesterday at one point, quote our pathetic slow moving federal reserve headed by jay powell which raised fed rates too fast and lower too low should get to level of competitors. while lower rates might be good for me, you, millions of borrowers out there, means less revenues for banks and they have been hit especially hard during this selloff here. by the way, dow futures right now heading into this day last check down about 6, 700 points or so. the meeting coming in 3:00 o'clock hour right as the bell will be closing on wall street. the vice presid

u.s. bank, wells fargo, bank of america, just to name a few that say they will allow you to suspend mortgage must enroll, though, in an assistance program. there will be no late fees and your accounts will not be reported as delinquent which is very important. so we reached out to some banks and here's what some of them told us. jpmorgan chase, if you have a mortgage with chase, they say, and have been impacted, help is available. our customer service specialists have already helped thousands of customers across the country by deferring payments. wells fargo, spoke to them. they said we encourage customers to continue making their payments if they can, but we are granting an immediate 90-day payment suspension for any wells fargo home lending mortgage or home equity customers who request assistance. bank of america deferring payments for clients on a monthly basis until the crisis is over and at this point, the timing could be up to 90 days or longer. you know what, cheryl, we got back to jpmorgan chase and what they said was they just need to reach out. that is so critical. don't think it's

u.s. bank, wells fargo and 200 state chartered banks and credit services have agreed to the 90-day grace period. during that time those institutions will waive late mortgage fees and other fees including ordinarily citi withdrawals. the banks were agreed not to report late payments to agencies and will have no new forks for 60 days. any late charges charged about this agreement would still be on hold unless you have convinced your bank otherwise. but this do not apply to commercial loans and it does not apply to people who rent. renters are still on the hook unless you've made special arrangements with your landlord. governor newsom did sign an executive order that gives cities and counties permission to halt evictions during this outbreak. >>> a live at sfo where the airports are streamlining operations due to the lack of travelers. starting on wednesday, the international terminal will be consolidated into a single concourse. boarding area "a" will be closed and all travelers will begin using area "g." those changes will be in place at least through the end of may. >>> and today, dmvs statewi

. >> reporter: some of the nations largest banks including wells fargo, citibank, jc morgan chase, and u.s. bank have all agreed to a 90 day grace period . the economic impact is likely to be significant. the governor said 1 million californians have already filed for unemployment since march 13 >> reporter: the bay area's hardest hit county saw a big increase in cases today. santa clara county health officials reported 8040 cases, bringing the total up to 459. another person there has died, bringing the total death up to 17. san mateo county has 165 cases, and sadly, four more people there have died. five deaths in total. three of the people who died for older adults. the fourth person was described as an adult. san francisco is now up to 178 cases and went death. in marin, there were 53 cases. sonoma has 37 and went death. napa county reports three cases. solana have 24-bit contra costa has 108. alameda county has 135 cases in two death. two passengers who contracted coronavirus from the tree and chris's presenter has died. the health and human services confirmed they got after being tra

banks are also offering some help. wells fargo, citi, j.p. morgan chase and u.s. bank agreed to a 90-day grace people for people affected by the outbreak. bank of america is offering 30 days and says that may be extended. real estate agents say the coronavirus is changing how they do business. now they're seeing a sharp drop in the number of people going out looking for homes to buy. and the shelter-in-place order makes house tours impossible. so they're using video tours instead. it's all adding up to a market that tips in favor of people who are ready to buy now. >> we're seeing some cases where they're selling below the asking price because a lot of times sellers just want to have the reinsurance somebody is going to buy the property. >> now, some banks are finding they can't fulfill one of the requirements for most home loans because many people who are cancelling their home appraisals. those property owners are saying they don't want strangers in their homes right now. >>> don't forget you can find complete coverage at coronavirusnow.com and along with the art

on the financial front, 200 banks including wells fargo the citibank, j.p. morgan, chase, and u.s. bank, have all agreed to a 90 day grace period for mortgage payments for those affected by this virus. the governor also urged all californians to keep following the state home order. >> we can bend the curve. we can defeat this virus. we can't defeat it unless we commit to fulfilling our individual obligations in our collective responsibility is to meet this moment. >> he said help is on the way from two billionaire businessman, tesla ceo elon musk has promised to distribute ventilators. burton group founder richard branson is shipping 150,000 test kits. california reports a 70% increase in the number of cases from just yesterday at more than 2500. at least 53 people have now died . today, federal officials confirmed that two people had traveled on the grand princess cruise ship that was held in the port of oakland earlier this month have also died from complications from the coronavirus. as for testing, governor newsom said today the 66,800 tests have been performed. the results for

u.s. bank, wells fargo, and i am proud to also note for the first time, bank of america, as well as many state chartered lending institutions and mortgage servicers, we can announce today a 90-day grace period for mortgage payments for borrowers economically impacted by the covid outbreak. importantly, for consumers who use this option, this 90-day grace period cannot and will not be used to downgrade anyone's credit rating and lenders will also waive any late fees or other costs which would otherwise arise because of this 90-day grace. period. grace this program closely mirrors what the state of california, under the strong leadership of my friend governor gavin newsom was able to provide for their homeowners. i thank the national lenders who are part of that agreement for working with us, as well as all the state level associations who worked with us on this for new jersey. i'm especially proud, as i mentioned a minute ago, that we were able to bring bank of america on board with our plan. again, i think we are the first state in america to do that with bank of america. i tip my hat to them

. >> 5 national banks are offering help, wells fargo, city, jp morgan chase and u.s. bank, they have agreed to a 90 day grace period for mortgage payments for those affected by the virus. bank of america offering a 30 day grace period and says that could possibly be extended. many communities taking steps to protect renters as they face economic uncertainty. course of san francisco, alameda, contra costa and santa clara counties delete eviction hearings. sheriff's offices in alameda and san francisco say they could postpone executing evictions. the governor executed executed an executive order allowing local governments to stop evictions and san francisco already laid out its rent moratorium guideline for those affected by coronavirus. tenants rights attorney explains what that means. >> because of the coronavirus, you either are hospitalized, you have mounting medical bills related to your hospitalization and family members. you've lost your job or your hours have been reduced. >> some groups calling for rent freezes, one san francisco landlord said he supports the id

banks are also offering help. wells fargo, c iti, j.p morgan chase, and u.s. bank agreed to a 90-day delay for mortgage payments. bank of america is offering 30 days but says that may be extending. >>> many bay area communities are protecting renters facing economic hardships. courts in san francisco, alameda, contra costa, and santa clara counties are delaying eviction hearings. sheriff's offices in alameda and san francisco say they will postpone carrying out evictions. governor newsom issued an executive order allowing local governments to stop evictions and san francisco's already laid out its rent moratorium guidelines. attendance rights lawyer explained exactly what that means. >> because of the coronavirus means you either are hospitalized, you have mounting medical bills related to your hospitalization or family members, you've lost your job or your hours have been reduced. >> now, some groups also want a freeze on rents. one san francisco landlord we talked to said he supports the idea of no evictions. though late fees and deferring rent but said he needs guidance from city and state leaders on what he

u.s. bank, wells fargo have all agreed to delay mortgage payments for 90 days. agreed to a one-month deferment but that can be extended on a monthly basis. it's not just california. we reached out to jpmorgan chase, u.s. bancorp and wells fargo and they say the mortgage relief program is nationwide, a rep telling us quote, we can only provide an industry standard offering which provides for a minimum 90 day forbearance program with month late feno la are committed to working with our kuft mrcustomers during the challenging times. foreclosures and evictions have also been suspended for 60 days. in every case, the best thing you can do essentially is reach out to your bank, ask what relief programs are available. yes, you will probably have to fill out some documents, maybe provide some of those documents and also fill out some forms but bottom line, it can buy you some valuable time. it's not free money, of course. those missed payments will just get folded back into the loan. but it does something else. it buys you some breathing room which is very important at

in climate news, wells fargo has ruled ouout investing in oil and gas drilling in the arctic, making it the third major u.s. bank to withdraw support for fossil fuel projects in the ecologically delicate region. the sierra club on tuesday hailed wells fargo's pledge, but warned the shift does not make improvements to the bank's other oil and gas financing policies. this comes as the trump administration is pushing forward with plans to open the arcticic national wiwildlife ree to drilling. a top democratic lawmaker is demanding answers from a secretive artificial intelligence company over its sale of facial recognition technology to repressive regimes, including saudi arabia and the united arab emirates. massachusetts senator ed markey sent a letter to clearview a.i. on tuesday, demanding information about the company's database of billions of images scraped from facebook and other social media sites. senator markey wrote -- "the use of sophisticated facial recognition technology is concerning even in a democracy with strong civil liberties, but its export to certain foreign countries could enable mass surveilla

u.s. globally systemically important banks, jpmorgan, wells fargo, citi, all took this unprecedented step of suspending their buybacks for q1 and q2 all at the same time. u.s. bank corp. also taking that action the main reason the banks is giving for this is that they want to be part of the solution this time, not the problem, and had they continued buybacks, it would risk painting the wrong image. they all maintain, by the way, that they did not need to take this action, that they've got plenty of liquidity and the fed's actions in the last week have made that even more certain, the discount window decision in particular this didn't stem, by the way, from the white house meeting with the bank ceos last week but rather over the course of the last 48 hours it became clear to the banks that the fed was going to act in a large way last night and this was sort of the banks' way of -- a sign of good faith to the fed as opposed to, say, the fed demanding the action of the banks. now, some bearish bank investors i've spoken to may ask, why this collective approach and why via the financial servic

wells fargo is ending support for oil and gas projects in the arctic. it is the third major u.s. banktice. wells fargo said the choice was made in 200 2018 but only receny decided to make it public. my kmickey may be the heart of disney but has never had its own ride until now. thrill seekers are under the impression they're going to watch a cartoon when things really get going and they get going fast. the official ride opens tomorrow. and it is a high stakes super tuesday today, more than 1300 delegates are up for grabs tonight. the prospective nominee needs nearly 2,000 to clench the democratic nomination and take on president trump come november. the commander in chief says he is staying confident, blasting the democrats' march left policies last night at a rally. watch. >> they've embraced an extreme left wing agenda. their plans would massively raise your taxes, destroy our liberty, muzzle our faith and erase our sovereignity. you know that. the democrat party has gone crazy. the insanity of washington democrats is why millions of registered democrat voters are joining our moveme

u.s. banks, but wells fargo, all of them talking about laying off people and you really have to look at thes coming at this time. look at the numbers we saw in the united states thursday morning. 3.3 million people firing -- filing for joblessness claims in the past week alone. the virus has undoubtedly been a health crisis around the world, but it is also taking a horrific economic toll. this economic stress and strain we are seeing out there is not really rooted in the banking world. it is not a banking crisis, so for a lot of these institutions to be able to say we will not carry out any reductions in workforce or pause any plans we have for this year is, i guess, at the end of the day a small positive sign. much does it help banks and keeping these jobs, especially after that fiscal package includes rules that may give some relief to banks from those requirements imposed during the financial crisis? >> well, look, you don't want to be a bank that has been extended all kinds of help from central banks and governments around the world. from that sense, it just would not have been a good l

anna han, wells fargo securities equity strategist, joins me, as well as mark cabana, bank of america head of u.ss strategy's. i wanted to talk to you about what happens. we wanted stimulus in's cohen action. we got that. then this was a really bad feedback loop. mark: it's not solved yet. pretty think there are significant liquidity issues in the market at the moment, which are probably exacerbating things. i think there is still a fair amount of uncertainty with regards to exactly what will be fiscalrated in the stimulus package, how it is going to be financed, and ultimately, if the fed can solve some of these broader market issues. they've been working really hard. we think they will get there, but there is probably a few steps until the market can function in a better state. alix: anna, how is liquidity in market?ty it looks like it would be a very similar problem as in other asset classes. anna: we saw yesterday a massive 13%y, but the day before, a fly. you saw equity market panic. it is fair because right now, we have a lot of information being thrown at investors, and it takes time to pr

new lows on yields, the major bank stocks, particularly the superregional, u.s. bancorp, zions, comerica. and wells fargo. the optimists have been pointing out that the china stocks bottomed and now we're rising in the last few weeks from that. we're off of the lows. they say there's evidence china's going back to work this is the one quarter group. maybe. maybe they are right let's hope they are right. and today, certainly a lot of doubt about whether that's actually going to happen kelly, back to you >> good info, bob. bob pisani >>> the yield, the benchmark sets rates across the country and it went to a fresh low of 0089% today. rick santelli joining us now rick, do we know what the catalyst is? >> the catalyst? just watch your local news there's your catalyst, of course people are getting nervous listen, i'm not a doctor, i'm not a doctor all i know, think about how the world would be if you tried to quarantine everybody because of generic-type flu i'm not saying this is the generic-type flu maybe we'd be better off, we gave it to everybody, and in a month it would be over because the mortality is go