Despite Ban on Payday Lending, Public Pensions Make Money From Outlawed Loans

That might be the message nyc is giving whilst the state’s pension that is public spend millions in payday financing businesses. Short-term, high-interest financial obligation referred to as payday advances are unlawful inside ny edges. But which haven’t stopped city and state your retirement funds from investing significantly more than $40 million in payday lenders that run various other states.