PayPal To Provide $25M Of Interest-Free Cash Advances To Unpaid Federal Workers

[Swordsmyth]

PayPal is joining a long list of banks offering interest-free loans to unpaid federal workers affected by the partial government shutdown - providing cash advances of up to $500 per employee until they hit $25 million.

"Starting immediately, PayPal is offering an interest-free cash advance up to $500, the equivalent of one week’s take home, for any existing or new PayPal Credit customers who are federal employees and are struggling to make ends meet," said PayPal CEO Dan Schulman in a Friday USA Today Op-Ed.
"We are committing to fund up to $25 million of interest-free cash advances to help federal government employees pay for food, gas and other everyday necessities," he added. "We hope that this program can provide some relief and certainty in uncertain times."
Approximately 800,000 federal workers missed their first full paychecks last Friday, and have either been furloughed or working witout pay due to the longest government shutdown in US history, now in its 28th day.
The shutdown impasse revolves around roughly $5 billion demanded by President Trump for his long-promised border wall, which Congressional Democrats refuse to fund.
Schulman said that PayPal's offer is "not fueled by politics, rather it's a matter of values."
"The world is changing rapidly, and our economic and political landscapes are dynamic and often unpredictable. This is a time to step up for each other and support the people around us who suddenly find themselves in a difficult spot," he said, adding "Our mission at PayPal is to help drive financial health for all people. Helping our partners in the public sector is neither a red or blue issue; it’s a red, white and blue issue."
PayPal joins a long list of banks offering programs or assistance for government workers. Here is a list of banks and credit unions helping federal workers.

• 1st Security Bank of Washington
• Baker Boyer Bank
• Bank of America
• Banner Bank
• Cashmere Valley Bank
• First Federal
• KeyBank
• Kitsap Bank
• JPMorgan Chase
• Sound Community Bank
• Union Bank
• U.S. Bank
• Washington Federal

According to CNBC, "Colorado's Alpine Bank has set aside $5 million to help furloughed workers. If you can prove you're an unpaid federal employee, you can get an interest-free loan the same day you apply." More:

Provident Bank in New Jersey recently announced it will cancel mortgage and credit card late fees for federal workers and allow them to break their certificates of deposit early without any penalties.
Huntington, a bank based in Columbus, Ohio, with some 960 branches across the Midwest, is offering a "low rate, quick loan program" for customers who are federal employees.
Launch Federal Credit Union has a zero-percent interest rate for loans up to $3,000 to federal government employees. Navy Federal Credit Union is doing the same, with a limit of $6,000. For more information, check out its frequently asked questions page.
The U.S. Employees Credit Union is providing interest-free loans to impacted members for 60 days, regardless of their credit score.
Justice Federal Credit Union is offering unsecured loans with low interest rates to any impacted workers at the Department of Justice or Department of Homeland Security.
Credit union FedChoice will waive early-withdrawal fees on some certificates of deposit and issue short-term loans with interest rates as low as 2.50 percent. Among other requirements, you'll need to provide evidence of your furloughed status. -CNBC

Today I am grateful for my wonderful bank @USAA and my car note holder @chase bank for agreeing to suspend my monthly payments while I'm furloughed. I wish I didn't have to resort to this...but at least we're not dealing with her emails 🙄 #ShutdownStories
— Rebel Rebel (@Palooke76) January 7, 2019

https://www.zerohedge.com/news/2019-...ederal-workers



The new aristocracy, they don't do this for ordinary Americans when the government wrecks their finances.

[oyarde]

Well , of course I do not work for the govt , but I may be interested in getting 500.00 under Danke or The Texans names .

[NorthCarolinaLiberty]

I was wondering if someone was going to do that. So now these tax ticks got a free vacation and an interest free loan.

And I am sure the progressive losers will still cry and ask YOU, the heartless libertarian, as if you are God in their humanist world: But what are these people supposed to do??!!

[timosman]

I was wondering if someone was going to do that. So now these tax ticks got a free vacation and an interest free loan.

And I am sure the progressive losers will still cry and ask YOU, the heartless libertarian, as if you are God in their humanist world: But what are these people supposed to do??!!

What do normal people do in these situations?

[dude58677]

I think that companies should give them job offers. This way they won’t want to go back to working for the federal government.

[nikcers]

What do normal people do in these situations?

There's a solution here you are not seeing

[enhanced_deficit]

President sets the tone not just for the country but for civic as well as business leaders.

President Trump Signs Back Pay Bill



Couldn't be more proud.

[Swordsmyth]

Popular crowdfunding website GoFundMe on Saturday launched its own campaign to raise money for the hundreds of thousands of federal workers harmed by the ongoing partial government shutdown.
The fund will distribute donations to several nonprofit organizations across the country that are providing assistance to government employees who have been furloughed or, if deemed essential, continue to work without pay during the shutdown, according to a GoFundMe press release.
“Government workers, through no fault of their own, can’t afford to put diapers on their newborns,” GoFundMe CEO Rob Solomon said in a statement Saturday. “Employees of the most powerful nation in the world are being forced to work without pay and line up at diaper or food banks. It makes no sense.”
As of Sunday morning, the fund had raised over $35,000 of its $50,000 goal. GoFundMe matched a $10,000 donation from author and speaker Deepak Chopra, according to the group’s press release.
National Diaper Bank Network and celebrity chef José Andrés’ initiative to feed hungry federal workers will reportedly receive support from the fund.
“I wish we did not have to start a GoFundMe to help federal workers,” Solomon said. “Unfortunately we do. And because we live in an imperfect world, we have a simple choice: We can feel helpless while tragedy unfolds, or we can take action.”
He continued, “To all of the government workers out there furloughed or working without pay: We are with you. We hope this ends soon and your lives return to normal.”


Over 1,500 GoFundMe campaigns have been launched by federal workers seeking money for food, rent and medical bills since the shutdown started.

More at: https://news.yahoo.com/gofundme-laun...jtc_news_index


If Only Media Had As Much Sympathy For Small Business Owners As It Does For Federal Employees

[Working Poor]

2.8e10

[Swordsmyth]

2.8e10

[kahless]

The new aristocracy, they don't do this for ordinary Americans when the government wrecks their finances.

I do not have a problem with any company helping them out but you make a good point here.

Where was their helping hand for people they displace with foreign labor. Where is their helping hand with the miles of homeless camps near their facilities.

Just another indication these companies are our enemy that are solely funding the opposition of ordinary Americans.

[Swordsmyth]

I do not have a problem with any company helping them out but you make a good point here.

Where was their helping hand for people they displace with foreign labor. Where is their helping hand with the miles of homeless camps near their facilities.

Or when taxes go up or when new laws and regulations put people out of work.

Just another indication these companies are our enemy that are solely funding the opposition of ordinary Americans.

[nobody's_hero]

"PayPal is offering an interest-free cash advance up to $500, the equivalent of one week’s take home."

WTF government job pays so little? Cleaning up after the janitor?

[acptulsa]

What if the federal government stopped doing the stuff it does and nobody--nobody--suffered but those in the federal government?

[shakey1]

What if the federal government stopped doing the stuff it does and nobody--nobody--suffered but those in the federal government?

[enhanced_deficit]

I oppose it but I also understand it, he wants to be able to say that he did everything he could to keep from cutting poor people off from food but the Demoncrats were completely unreasonable.

I'm a Conservertarian.

Do you also understand PayPal's move (thumbs down in thread title) to help needy for marketing reasons as you understood Trump's move to restore food stamps (no thumbs down or invisible understanding thumb) to appear reasonable as you implied?

[Swordsmyth]

Do you also understand PayPal's move (thumbs down in thread title) to help needy for marketing reasons as you understood Trump's move to restore food stamps (no thumbs down or invisible understanding thumb) to appear reasonable as you implied?

Paypal who is a political enemy of mine is helping government workers who are almost all my political enemies because they want to advance their common goals that are bad, Trump helped some poor people some of whom are my political enemies and some of whom are not in order advance good goals that I agree with.

I don't approve of either action but I would think that even you could see why I am more upset by the first than the second.

[enhanced_deficit]

Paypal who is a political enemy of mine is helping government workers who are almost all my political enemies because they want to advance their common goals that are bad, Trump helped some poor people some of whom are my political enemies and some of whom are not in order advance good goals that I agree with.

I don't approve of either action but I would think that even you could see why I am more upset by the first than the second.

Do you consider border patrol, national guard, coast guard, troops to be government workers?

Trump signed back payment bill for same gov workers that PayPal has announced will help; curious why any of same Trump moves did not get thumbs down based on same principle you invoked for PP?

[Swordsmyth]

Do you consider border patrol, national guard, coast guard, troops to be government workers?

Yes, I didn't say all of the government workers were my political enemies, just most of them

Trump signed back payment bill for same gov workers that PayPal has announced will help; curious why any of same Trump moves did not get thumbs down based on same principle you invoked for PP?

Because Trump did it in order to advance political goals I agree with, PP did what it did to advance political goals that I oppose.
And I don't agree with that move either by the way.


Stop trying to defend PP or the government workers.

[Swordsmyth]

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.
“One can only imagine, as far as missing a paycheck, of course there’s great concern and financial uncertainty,” Tynika Wilson, senior vice president of debit card and fund services at Navy Federal, said Tuesday in an interview. “Our program is to bridge that gap during this time, to put members at ease.”
About 800,000 federal employees aren’t receiving paychecks amid the shutdown that began Dec. 22 as President Donald Trump and lawmakers clash over funding for a border wall with Mexico. Workers have been promised back pay when the impasse ends. To tide them over, more than 100 banks have programs in place to help, according to the American Bankers Association.
Programs include fee waivers and low-cost loans. Some of the nation’s biggest banks, including Bank of America Corp. and Wells Fargo & Co., are offering assistance on a case-by-case basis. Wells Fargo spokeswoman Ann Wasik said the number of customers who have tapped the bank’s assistance program has been low, but increasing as the shutdown continues.
U.S. Bancorp, the country’s fifth-largest bank by deposits, is offering loans up to $6,000 at 0.01 percent interest. Executives at the Minneapolis-based bank are “not expecting lots of volume, but want people to know if they have an emergency situation it’s there,” Chief Financial Officer Terry Dolan said Wednesday in an interview.


More at: https://news.yahoo.com/u-banks-boost...215311084.html

Trump needs to keep it going until after the 2020 elections and the new Congress is seated, there's no way the banks will be able to keep this up that long.