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Governor puts end to payday lending operations in nursing homes

September 12, 2006 - Springfield, Missouri

Gov. Matt Blunt announced this morning that nursing homes will no longer be allowed to run on-site payday loan operations to lend money to nursing homes' employees.

"Payday loans typically charge exorbitant amounts in interest for those who borrow from them," said Blunt in a news release. "Employers should not be making money off the wages they pay their hardworking long-term care facility employees."

Blunt said long-term care rules allow only activities necessary to or directly related to the administration of the facility to operate within the facility.

Payday loans for employees do not meet the rules, Blunt said.

"We are stopping this potential financial abuse of hardworking long-term care workers in Missouri," said the governor.

The existing on-site payday loan operations would have to be renewed beginning the end of August. The Missouri Department of Health and Senior Services will deny all the renewal requests as well as any future requests.

News Source

The News Leader, Staff Writer

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