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Hurricane Sandy Forces Banks to Shut Offices, Waive Fees

Updated with Capital One's concessions.

NEW YORK ( TheStreet) -- JPMorgan Chase (JPM - Get Report) is waiving checking account and loan fees for customers coping with Hurricane Sandy.

Chase will waive fees for customers in Connecticut, Delaware, Maryland, New Jersey, Pennsylvania, Virginia and the District of Columbia.

Fees waived include overdraft protection transfer, extended overdraft, returned items and insufficient funds, as well as late fees on credit cards, business and consumer loans, including mortgage, home equity, auto and student loans.

The bank also said it will increase staff and extend hours in key areas that are severely affected once the storm passes.

Bank of America (BAC - Get Report) customers who wish to waive overdraft fees can contact bank representatives a spokesperson told the New York Times.

Capital One (COF - Get Report) spokesperson Amanda Landers also said the company is making concessions for customers.

Capital one has programs in place for assistance including fee waivers and payment plans.

"We understand that some of our customers may face unexpected financial challenges within the coming days due to Hurricane Sandy. We encourage those customers to contact us in person at a branch, via phone or through online channels, if they are having an issue with their credit card or banking needs," she said.

The big four banks including Wells Fargo (WFC - Get Report) and Citigroup (C - Get Report) will be shutting major branches in New York City in the wake of the storm.

-- Written by Shanthi Bharatwaj in New York.
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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