Religious development group advocates for NY law to stop 'Vulture Funds'

Albany, NY - Religious leaders, lawyers, academics and debt experts are meeting to discuss changing New York laws that govern debt contracts from Puerto Rico to Mozambique, said a statement issued by Jubilee USA Network.

The public interfaith event held at a Schenectady Synagogue is entitled, "Building an Economy that Serves the Poor: An Interfaith Forum on New York Laws to Stop Predatory Finance and Protect Developing Economies."

"New York laws govern most of the world's debt", said Eric LeCompte, executive director of the religious Development Group, Jubilee USA. "Changing laws in New York can stop predatory behavior and make it easier for US States and countries to get out of financial crisis."

More than half of the world's debt is contracted under New York state law.

The event features: Matt Cutler, Rabbi, Congregation Gates of Heaven; Barbara Di Tommaso, former Director of the Commission on Peace and Justice of the Roman Catholic Diocese of Albany; Eric LeCompte, Executive Director of Jubilee USA and UN Expert; Professor Richard L. Shirley, Professor of Economics, Sienna College; Stephen Schneck, Professor of Politics at The Catholic University of America; Beatrice Parwatikar, representing Jubilee Vermont and Jubilee USA Board Co-Chair Emeritus; and Steven L. Schwarcz, Stanley A. Star Professor of Law and Business at Duke University School of Law; and Daniel Finn, Professor of Theology and Clemens Professor of Economics at St. John’s University, Collegeville, Minnesota.

Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people.