YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Gov. Matt Blunt announced Tuesday that nursing homes will no longer be permitted to lend money to their employees, citing those operations as unrelated and unnecessary for the administration of long-term care facilities.
About 60 nursing homes in the state offer payday loans.
“Payday loans typically charge exorbitant amounts in interest for those who borrow from them,” Blunt said in a news release. “Employers should not be making money off the wages they pay their hardworking long-term care facility employees.”
The Missouri Department of Health and Senior Services will deny all new and renewal requests for on-site payday loan operations, according to the release.
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