I-Team: Despite Ban on Payday Lending, Public Pensions Benefit From Outlawed Loans

I-Team: Despite Ban on Payday Lending, Public Pensions Benefit From Outlawed Loans

By Chris Glorioso and Evan Stulberger • Published 5, 2017 • Updated on October 5, 2017 at 7:36 pm october

Do when I do as I say, not.

That would be the message nyc is delivering once the state’s pension that is public spend millions in payday lending organizations.

Short-term, high-interest financial obligation referred to as pay day loans are unlawful inside New York boundaries. But which hasn’t stopped state and town your retirement funds from spending significantly more than $40 hit website million in payday loan providers that run in other states.

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“New York should not be spending a dime propping them up,” said Andy Morrison, a spokesman for the brand new Economy venture, a nonprofit that urges retirement supervisors to produce more socially accountable assets. Leer más