Union-owned bank helps restore pay to Firefighters and Policemen

Earlier this summer, the city of Scranton, Pennsylvania, cut the pay of its 400 firefighters and police officers to $7.25 an hour, as Working In These Times reported. Scranton Mayor Chris Doherty claimed that he was forced to cut the pay because the city simply did not have enough cash on hand to pay full salaries. Because of its poor finances Scranton had also been unable to get a loan to help cover the costs of back wages owed to firefighters and police. But a last-second $6.25 million loan from the union-owned Amalgamated Bank will help Scranton to meet its payroll this Friday and to pay the workers their backpay.

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