New workplace advantage: low-income employee loans

More and more US employers are partnering with financial institutions such as credit unions to offer small personal loans to their employees, offering employees a way to overcome financial crises without resorting to high-cost personal loans. The wages of low-income workers are stagnant, supporting the demand for small consumer loans. …

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Japanese banks will suspend same-day personal loans

TOKYO – Banks in Japan will strengthen screening of personal loan applications starting in January amid mounting criticism that easy credit has contributed to a jump in personal bankruptcies and people struggling under heavy debt. In Japan, banks issue loan cards that allow holders to borrow money by withdrawing cash …

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