Texas leads the world in payday financing and automobile name loan companies

Texas leads the country in payday car and lending name loan companies with increased than 3,000 storefronts over the state. Payday lenders are both a blessing and a curse: on one side, they meet a need; on the other side, they do therefore through sky interest that is high. This is exactly why communities of faith are receiving involved in the effort to higher regulate them. But should faith leaders try cash things?

Faith Communities Are paying down People’s Payday Lending Debt.John Hill is by using the United Methodist Church. He claims faith leaders are commanded to look for monetary justice.

“there is actually no wiggle space about this,” Hill claims. “There are explicit mandates against charging you usury as interest that is clear when you look at the Old Testament.

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