Worried about predatory lenders, Broward County officials stated they are going to think about employees that are offering loans with reduced rates of interest.
Commissioners decided to look for bids from financial institutions whom might choose to form teams with Broward County, providing crisis loans as high as $5,000 to employees, including individuals with woeful credit ranks.
The county employs significantly more than 5,000 people, and union frontrunner Dan Reynolds for the Federation of Public Employees asked for a financial loan system couple of years ago, talking about some loan providers as “vultures.”
“those who reside paycheck to paycheck must not be taken benefit of simply because previous economic challenges, quick product product sales, divorces or medical dilemmas have remaining all of them with blemished credit,” he had written in a page to County Administrator Bertha Henry. Continue Reading