News Release Details
Financial Press Release
PNC Announces Support of Coronavirus Relief Efforts
"The safety and well-being of our customers, employees and the communities we serve has always been a top priority for PNC," said PNC Chairman, President and CEO
PNC's funding – which will be disbursed throughout 2020 – will be coordinated by the
This will include additional
PNC's coronavirus relief support also includes an employee matching gift program in support of the coronavirus relief efforts of the
Separately, PNC also continues to support its customers facing financial hardship due to the coronavirus. Assistance includes: grace periods for mortgage payments and consumer loans, with no late fees; no new foreclosures, evictions or repossessions; waivers of certain fees and charges; no adverse credit reporting for accessing relief; and emergency relief for consumer and small and medium-sized business loans, including those being provided through the recently enacted federal CARES Act.
"As a bank, we recognize our role as a pillar of the communities we serve, and we are actively working with those affected, providing a variety of solutions that make the most sense for meeting their particular needs," said Demchak. "Now more than ever, it is critical that we come together to support our customers and communities, and we are grateful to our employees for their continued commitment to doing just that."
PNC has taken a number of steps to ensure the safety of its employees and customers, including implementation of a work-from-home strategy for employees whose jobs can be performed remotely during these unprecedented times. For team members who must be on site, PNC has put in place a variety of safeguards, including temporary adjustments to retail branch access, operating primarily in drive- up only mode; social distancing policies; and two-week, split-team rotations for frontline and operations employees, who are receiving paid time off for the two-week periods when they are not on site and additional pay in the form of monthly lump sum payments. In addition, employees also are eligible for up to two weeks paid time off for child or elder care.
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