Recently, National Public Radio featured a program concerning significant financial difficulties facing unpaid federal workers due to the government shutdown. It appears that many lending institutions and landlords are refusing to help these federal workers by offering simple interest free loans, delayed mortgage payments, postponing rent payments and other financial helpful accommodations.
During the Great Recession, many major banks and several other failing industries were bailed out by taxpayers with the Emergency Economic Stabilization Act of 2008 to the tune of $700 billion. Institutions such as Bank of America, Citi Group and Wells Fargo should be grateful for this federal help and should show some gratitude to unpaid federal workers who will be hard pressed to pay their bills.
Which banks are cooperating with the federal workers and which are not? It will help me determine where to keep my money.
Disclaimer: As submitted to the Arizona Daily Star.