Have city of Inglewood employees taken the bait? Back in March 2UrbanGirls reported on predatory lending in Inglewood City Hall. Preferred hard money-lender to municipal employees penetrated the city’s employee breakroom and began offering pay-day loans with a nearly 24% interest rate. BMG Money Inc. began peddling their loans in time for the Christmas holiday. After reviewing today’s city council agenda and subsequent warrant register. It’s gonna be a banner year for BMG.
Today the mayor and council approved a payment of $4,651.73 to the company.
The mayor and council also approved six (6) water bill refunds to Morgan Picks LLC, the investor who sold Mayor Butts his investment property at 8808 S. 5th.