NJ Citizen Action claims having a continuing state pension investment spent, also indirectly, in a type of lending unlawful within the state cannot stand.
Whenever Phyllis Salowe-Kaye discovered that the newest Jersey State Investment Council had spent $50 million state retirement bucks with a personal equity company which used a few of the funds to get a predatory payday loan provider, she had the proverbial roof. The longtime professional manager of brand new Jersey Citizen Action quickly assembled a strong coalition of customer security and civil liberties advocates and started using strain on the payment to market its stake into the company. Payday financing is unlawful in nj-new jersey and she considered the employment of state bucks to buy a lender that is payday at ab muscles least, a breach of ethics and conflict of great interest for the payment. Continue reading “Getting Nj-new Jersey to Divest from Payday Lending. NJ Citizen Action claims having a continuing state pension fund spent, even indirectly”