Payday loan rule flawed, say ERLC, others

Tom Strode Baptist Press August 31, 2016 WASHINGTON (BP) — The Southern Baptist Convention’s ethics entity and other members of a diverse religious coalition have urged the federal government to strengthen a proposed rule to regulate the predatory lending industry. The Ethics & Religious Liberty Commission (ERLC) united earlier this month with other organizations in…

Beware of Payday Loan Wolves

Anyra R. Cano-Valencia / Christianity Today / JUNE 30, 2016 A youth minister and advocacy outreach specialist for the Cooperative Baptist Fellowship shares her introduction to the suffering that payday loans can cause. Anyra Cano-Valencia recounts the challenges of assisting a church member caught in the payday lending trap and encourages church members to support work being…

Protect the Poor, Don’t Profit from Their Need

PE News June 3, 2016 George O. Wood – general superintendent of the Assemblies of God (USA) and chair of the World Assemblies of God Fellowship – explains the moral imperative of reforming payday lending in response to the Consumer Financial Protection Bureau’s new federal rule for “small-dollar lending.”   Today in Kansas City, Missouri,…

Church Leaders: Payday loans hurt Springfield

Monday, May 23, 2016 By Michael Cooper Industry representatives say payday lenders provide necessary service to customers. SPRINGFIELD — Local church leaders want Springfield to support proposed regulations for payday lending centers, which they say are harming the working poor. However an industry spokesman says payday loans provide a service to customers who often don’t…