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Without a doubt about Getting nj-new jersey to Divest from Payday Lending

Without a doubt about Getting nj-new jersey to Divest from Payday Lending

NJ Citizen Action states having a continuing state pension investment spent, also indirectly, in a type of lending illegal within the state cannot stand.

Whenever Phyllis Salowe-Kaye learned that the latest Jersey State Investment Council had spent $50 million state retirement bucks with an exclusive equity company that used a few of the funds to shop for a predatory payday loan provider, she experienced the roof that is proverbial. 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 using strain on the commission to offer its stake when you look at the company.