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Loans
National Summary
Employers may consider advancing money to employees facing serious financial hardship or as financial incentives. However, employers must carefully consider the complications the lender/borrower relationship will add to the employer/employee relationship. Employers that regularly make loans or advances to employees may be subject to the disclosure requirements of consumer credit laws. If an employee is required to repay a loan through payroll deductions, employers must comply with state laws related to such deductions.
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