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Let me make it clear about Getting nj-new jersey to Divest from Payday Lending

Let me make it clear about Getting nj-new jersey to Divest from Payday Lending

NJ Citizen Action states having a continuing state pension investment invested, also indirectly, in a type of lending illegal when you look at the state cannot stand.

Whenever Phyllis Salowe-Kaye discovered that the latest Jersey State Investment Council had spent $50 million state retirement dollars with a personal equity company which used a number of the funds to shop for a predatory payday lender, she experienced the proverbial roof. The longtime administrator manager of brand new Jersey Citizen Action quickly assembled a strong coalition of customer security and civil legal rights advocates and started applying stress on the payment to offer its stake within the company.