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Broward may offer emergency loans that are payday workers

Broward may offer emergency loans that are payday workers

Worried about predatory lenders, Broward County officials stated they will start thinking about providing workers crisis loans with reduced rates of interest.

Commissioners consented to look for bids from financial institutions whom might choose to form teams with Broward County, providing crisis loans as much as $5,000 to employees, including those with woeful credit reviews.

The county employs a lot more than 5,000 people, and union frontrunner Dan Reynolds associated with the Federation of Public Employees asked for a financial loan system 2 yrs ago, talking about some loan providers as “vultures.”