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US Federal Workers Apply for Loans as Shutdown Hits Military Morale
The Bank of North Dakota offers loans at 2% interest for up to five months to help over 9,000 federal employees manage finances during the ongoing government shutdown.
- On Wednesday, North Dakota officials rolled out a loan program to aid federal employees during the federal government shutdown's second week, running through Bank of North Dakota under the Industrial Commission.
- Faced with backpay uncertainty, North Dakota officials launched a loan program as Congress failed to pass a resolution by Oct. 1, triggering the shutdown.
- Starting Oct. 10, federal workers can apply through banks and credit unions through Jan. 2 for loans with 2% interest and a five-month term, Don Morgan said.
- Locally, over 9,000 North Dakotans work for the federal government, and Armstrong said the program was rolled out early to prevent gaps while Navy Federal Credit Union and Cobalt Credit Union report applications since Oct. 1.
- If no deal is reached by the end of this month, federal workers will receive nothing in the following paycheck, layoffs have been floated, and mortgage brokers warn private-sector borrowers could face delays.
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24 Articles
Coverage Details
Total News Sources24
Leaning Left3Leaning Right2Center11Last UpdatedBias Distribution69% Center
Bias Distribution
- 69% of the sources are Center
69% Center
L 19%
C 69%
12%
Factuality
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