Iowa: Catholics and evangelicals unite against payday loans

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27 January 2016 | by CNS , Megan Cornwell

Opposition to the high-interest loans in US is big election issue for religious

 

Ahead of the Iowa caucuses that begin the formal process of picking the Republican presidential contender, the public policy arm of Iowa’s Bishops’ Conference and an Iowa-based evangelical organisation are working together to put payday lending on the agenda, reports Catholic News Service.

The faith groups commissioned a poll into people’s opinions towards payday lending which showed that opposition to the high-interest loans was especially strong among religious conservatives, 87 per cent of whom opposed the practice once they were told the average interest rate people were forced to pay.

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