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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

Travel Alert: Get transit that is real-Time Here as Nor’easter Bears Down

“New York shouldn’t be investing a dime propping them up,” said Andy Morrison, a spokesman when it comes to brand brand brand New Economy Project, a nonprofit that urges retirement supervisors which will make more investments that are socially responsible.

The brand new Economy venture is currently asking nyc Comptroller Scott Stringer and brand brand brand New York State Comptroller Tom DiNapoli to start an ongoing process of divestment from payday loan providers. But thus far, neither comptroller has expressed passion when it comes to concept.

DiNapoli declined to respond to questions regarding divestment. Their spokesman, Matthew Sweeney, stated the fault for buying stock in payday lenders falls on “outside managers, that have discernment to acquire publicly traded shares” with respect to the continuing state retirement.