To that end, a number of financial institutions, including Goldman Sachs, Ally Financial, Bank of America, Citi and Fifth Third Bank, have taken steps to offer some assistance for customers affected by Covid-19.
Since Goldman Sachs' hardship program rolled out in March, more than 100,000 customers have enrolled, according to Omer Ismail, head of the bank's consumer business in the Americas.
A similar offering from Goldman's Apple Card also allows cardholders to skip a payment without incurring interest charges.
Since the pandemic is far from over, Ismail said, the bank is now considering how to extend the program, which was originally set to run for four months.
"We know that this is a tough time for many, and we want to make sure that those that have been impacted by the pandemic have this program available," he said.