Client Alert: COVID-19 PA CARE Package

On March 30, 2020, Pennsylvania Attorney General (AG) Josh Shapiro announced the launch of a “PA CARE Package” consumer relief initiative. Banks and financial institutions partnering with AG Shapiro under the PA CARE Package must offer additional assistance to individuals in Pennsylvania facing financial hardship due to the impact of the COVID-19 pandemic. The following relief efforts are specified:

  • Expansion of small and medium business loan availability;
  • 90-day grace period for mortgages (at least);
  • 90-day grace period for other consumer loans such as auto loans;
  • 90-day window for relief from fees and charges such as late and overdraft fees;
  • Foreclosure, eviction, or motor vehicle repossession moratorium for 60 days; and
  • No adverse credit reporting for accessing relief on consumer loans.

For more information on how governmental COVID-19 consumer initiatives may impact you, please contact Jason Yarbrough, Rob Dauer, or any other Meyer, Unkovic & Scott attorney with whom you have worked.

This material is for informational purposes only. It is not and should not be solely relied on as legal advice in dealing with any specific situation.