Broward may offer crisis loans that are payday workers

Broward may offer crisis loans that are payday workers

Worried about predatory lenders, Broward County officials said they’re going to start thinking about employees that are offering loans with reduced interest levels.

Commissioners decided to seek bids from financial institutions who may want to form teams with Broward County, providing emergency loans all the way to $5,000 to workers, including people that have woeful credit ranks.

The county employs significantly more than 5,000 individuals, and union leader Dan Reynolds associated with the Federation of Public Employees asked for the loan system two years ago, talking about some loan providers as “vultures.”

“those who reside paycheck to paycheck must not be taken benefit of just because previous challenges that are financial quick product product product sales, divorces or medical dilemmas have remaining these with blemished credit,” he composed in a page to County Administrator Bertha Henry. Leggi tutto “Broward may offer crisis loans that are payday workers”