Bank of America Grants $28.5 Billion in Deferrals for Business and Consumer Loans

Bank of America Grants $28.5 Billion in Deferrals for Business and Consumer Loans

Borrowers have been taking advantage of Bank of America's (NYSE: BAC) loan deferral program. The big bank revealed in a regulatory filing that it has provided such postponements to consumer and commercial loan balances worth $28.5 billion total as of July 23. In March, Bank of America launched its deferral program as part of a broader package of customer assistance measures.