Faith V. Greed

“The Bible condemns gaining wealth through usury; and the writers of Scripture warn about gaining wealth through exploiting the poor… [but] The State of Alabama allows Payday lenders to charge an annual interest rate of 456%.” So reads a 2014 Alabama Baptist State Convention resolution condemning predatory payday loans and recommending a 36% cap on…

Christian Leaders Condemn Payday Lenders who Con the Poor

BY MICHAEL GRYBOSKI , CHRISTIAN POST REPORTER November 21, 2014|1:40 pm The coalition met Wednesday morning at the Lutheran Church of the Reformation, mere blocks from Capitol Hill, before heading out to lobby Congress to add new usury restrictions and control lenders’ ability to confuse potential borrowers through slick marketing. Galen Carey, vice president of…

End payday lending trap

Chris Sanders, Special to The Courier-Journal Hurry in to get your holiday cash today!” “Bring extra cash Ho-Ho-Home for the Holidays!” These advertisements for payday loans can be hard to escape during the holidays. After seeing these advertisements, many well-intentioned parents and grandparents will take out a loan in order to purchase gifts for their…