Fifth Third Bankwill not conduct foreclosure evictions during the Christmas holidays. The company said it will stop evictions for the period stretching from Dec. 17 through Jan. 2 for bank-owned mortgages.
The bank is following in Fannie Mae and Freddie Mac’s footsteps, which announced plans to launch their annual eviction moratoriums earlier this month.
Fifth Third also is taking cues from key banks. Several mega banks, including Wells Fargo (WFC), U.S. Bancorp (USB), PNC Financial Services (PNC), Bank of America (BAC), SunTrust (STI) and Citigroup (C), announced plans to halt evictions until the new year.
"We are suspending evictions through the start of the new year to help our customers who are experiencing financial hardships find relief this holiday season," said Steven Alonso, executive vice president and head of Fifth Third’s Consumer Bank.