Jan 18, 2019

PayPal CEO offers $25m in cash advances for federal employees

PayPal CEO Dan Schulman. Photo: John Lamparski/Getty Images

PayPal CEO Dan Schulman announced in a USA Today op-ed Friday that the company would be committing $25 million in interest-free cash advances to federal employees impacted by the government shutdown.

Details: Schulman writes that 40% of all Americans aren't able to cover a $400 emergency expense, and that nearly 80% of full-time workers live paycheck to paycheck. Because many in the private sector are "in a position to help," Schulman writes, PayPal will offer up to $500 in interest-free cash advances to "any existing or new PayPal Credit customers who are federal employees and are struggling to make ends meet."

Go deeper: All the ways Americans are feeling the effects of the shutdown

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

Global: Total confirmed cases as of 12:30 p.m. ET: 1,506,936 — Total deaths: 90,057 — Total recoveries: 340,112 — Map.
U.S.: Total confirmed cases as of 12:30 p.m. ET: 432,596 — Total deaths: 14,831 — Total recoveries: 24,235 — Map.
Business: The Fed will lend up to $2.3 trillion — Another 6.6 million jobless claims were filed last week.
Public health latest: Dr. Anthony Fauci said social distancing could reduce the U.S. death toll to 60,000.
Travel update: TSA screened fewer than 100,000 people at airports in the U.S. on both Tuesday and Wednesday, compared to 2.2 million passengers on an average weekday a year ago.
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What should I do? Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
Other resources: CDC on how to avoid the virus, what to do if you get it.

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