U.S. Banks Boost Aid to Customers as Federal Shutdown Drags On
- Lenders offer help with workers facing second missed paycheck
- Special loans can help ‘bridge that gap,’ executive says
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Lenders across the U.S. are bolstering assistance programs and evaluating how else to help their customers as the longest partial government shutdown in history threatens to extend through a second payday for furloughed federal workers.
Navy Federal Credit Union, a Vienna, Virginia-based lender with more 8.1 million members, is offering no-interest, no-fee loans up to $6,000 for its 100,000 affected customers. So far, 16,000 customers have enrolled, and the lender extended advances to cover a second pay period.