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Employer Loans: Perq or Punishment?

A relatively new workplace benefit is gaining traction around the country: companies offering their workers short-term loans to help offset expenses. So reports The Wall Street Journal.

 

This system of "shadow lending" through third-party lenders offers debt-relief assistance to staffers, who can conveniently repay their loans through payroll deductions.

 

But there’s a catch, and it’s a whopper: effective Annual Percentage Rates (APRs) that can cost as much as the loans themselves.

 

Read the full article from The Wall Street Journal.

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