They truly are More Widespread Versus McDonald’s, You Most Likely Should Never Get In
” The loan that is payday was damaging the economic life of huge numbers of people for many years, ” stated James Zhang, a previous personal equity investor that is now a supervisor when it comes to customer finance website Nerdwallet. “with no a person is dealing with the investors and businesses behind the predatory lending. ”
The investors Zhang is discussing are players in a perverse financial irony: the exact same personal equity firm, JLL Partners, that has ACE money Express, additionally manages retirement funds for state governments — New York State Teachers’ pension Fund and nj-new jersey State Pension — and also the endowments of universities, including Harvard and Cornell. An industry that is preying on the poor and financially uneducated in other words, people putting money into colleges and teachers’ pensions are helping fund.
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