We will look at how predatory lending relates to the Bible’s larger views on poverty and God’s heart for this issue, then consider how Christians can address the problem. On November 6, Coloradans will have the opportunity to cast a vote on Proposition 111, which would lower the annual interest rate payday lenders are able …
The National Association of Evangelicals (NAE), as the largest evangelical network in the country, brings together 40 evangelical denominations with more than 45,000 congregations, as well as ministries, missions, colleges, universities, seminaries, charities and networks, with millions of constituents. We have seen the devastation that predatory lending has wrought in too many families and communities. …
When used responsibly, credit can be a blessing. Banks, credit unions and other financial institutions play a vital role in the efficient functioning of a modern economy, contributing to the common good. The Bible offers these guidelines for honorable lending and borrowing: Don’t take advantage of the vulnerable. Don’t charge excessive interest. Lend generously. Avoid …
Members of the Faith for Just Lending coalition include the Center for Public Justice, Cooperative Baptist Fellowship, Ecumenical Poverty Initiative, Ethics & Religious Liberty Commission of the Southern Baptist Convention, National Association of Evangelicals, National Baptist Convention, USA, Inc., National Latino Evangelical Coalition and the PICO National Network. While representing distinct institutions with different histories …
The National Association of Evangelicals is a key member of Faith for Just Lending. Other members include the Center for Public Justice, Cooperative Baptist Fellowship, Ecumenical Poverty Initiative, Ethics & Religious Liberty Commission of the Southern Baptist Convention, National Baptist Convention, USA, Inc., National Latino Evangelical Coalition and the PICO National Network. Principles for Just Lending …
“The Bible speaks strongly against unjust lending and taking advantage of the poor,” said Leith Anderson, NAE President. “We were stunned to learn that short-term, high interest loans with annual interest and fees may exceed 300 percent in some states.” Banks, credit unions and other financial institutions play a vital role in the efficient functioning …
Scripture upholds principles of just and honest commerce, while prohibiting usury, exploitation and oppression of those in need. This includes predatory lending in which vulnerable people with immediate financial needs are lured into short-term, high interest loan agreements that are rolled over from paycheck to paycheck. In many cases annual interest and fees may exceed …
