Business & Tech

Local Banks to Float Payments for Furloughed Federal Workers

Belmont Savings, Eastern and other banks may allow delayed mortgage payments to federal workers left out in the cold by the government shutdown.

By Roberto Scalese

If you've been following the government shutdown debacle, you've surely heard that most federal workers got a half a paycheck recently, and don't expect another pay day for a while. To help those workers, several local and regional banks are chipping in, waiving fees, allowing for flexibly mortgage payments and more, according to a report in Boston Business Journal

Belmont Savings, Eastern Bank, Citizens and TDBank were among those willing to help, according to the BBJ. What exactly each bank is willing to do for workers depends on the bank, the worker's situation and other factors.

The newfound sense of flexibility comes after federal banking regulators asked financial institutions to help the approximately 800,00o furloughed federal workers. Individuals should contact their bank to see what programs are available.


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