Consumer Confidential: Why Is University of California Investing in Payday Lender Ace Cash Express?
The University of California makes money when American workers become trapped in endless cycles of high-interest debt. That’s because the university has invested millions of dollars in an investment fund that owns one of the country’s largest payday lenders, ACE Cash Express, which has branches throughout Southern California. ACE isn’t an upstanding citizen even by the bottom-feeding standards of its industry. In 2014, Texas-based ACE...
