One million Californians file for unemployment; homeowners hurt by coronavirus will get a break

More than one million Californians have filed for unemployment less than two weeks into the coronavirus pandemic. 

“We just passed the 1 million mark, in terms of the number of claims, just since March 13,” California Gov. Gavin Newsom said on Wednesday, per CNBC. The state and the cities within will receive $10 billion from a block grant as part of the relief bill that just passed the Senate.

To provide assistance to those who have been economically impacted by the coronavirus pandemic, the five biggest financial institutions have conceded extra time for residents of California to pay their home mortgages. 

Newsome said he has “personal commitments” from the heads of Wells Fargo, U.S. Bank, JPMorgan Chase, and Citi to waive payments owed by customers “affected by COVID-19” for at least 90 days, per The Los Angeles Times. In addition, 200 state-chartered banks have agreed to similar measures. Bank of America will give customers only 30 days to catch up on payments.

While the state does not have oversight on the banks, the governor said he has “absolute certainty” the financial institutions will stay true to their word.