Exactly about Nj-new Jersey Divests from Payday Lending

Exactly about Nj-new Jersey Divests from Payday Lending

This informative article initially starred in Shelterforce.

Whenever Phyllis Salowe-Kaye discovered that the brand new Jersey State Investment Council (NJSIC) had spent 50 million state retirement bucks with an exclusive equity company which used a few of the funds to get a predatory payday loan provider, she had the proverbial roof. The longtime administrator manager of brand new Jersey resident Action (NJCA) quickly assembled a robust coalition of consumer protection and civil legal rights advocates and started applying stress on the payment to market its stake when you look at the firm.Continue reading