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Markets News

Bank of America details loan deferrals due to pandemic

Oct 30 (Reuters) - Bank of America Corp said on Friday that nearly $10 billion of its consumer loan portfolio was in a deferral program due to the COVID-19 pandemic.

Deferred consumer and small- business loans totaled $9.8 billion as of Oct. 21, according to a regulatory filing. The deferred loans include $9 billion in residential mortgage and home equity loans, $298 million in credit card loans and $582 million of small business and consumer vehicle loans.

Excluding small business loans, deferred commercial balances totaled $1.4 billion, or 0.29% of total commercial loans. (Reporting by Imani Moise; Editing by Leslie Adler)

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