January 7

Without a doubt about Canterbury UMC to host Payday Lending roundtable forum

Without a doubt about Canterbury UMC to host Payday Lending roundtable forum

The 2014 North Alabama Annual Conference adopted a resolution calling from the Alabama State Legislature to “pass appropriate legislation to control the actions of predatory lenders.” The https://personalbadcreditloans.net/reviews/greenlight-cash-review/ quality noted “protection associated with the poor and disadvantaged is a main concept of christianity” and “the Bible forbids usury in a large number of passages.”

In 2003, Alabama Legislature passed legislation which carved away a legal loophole that enables predatory lending to occur in Alabama. It permits lenders to charge as much as 456 % interest (ARP).

Numerous churches, non-profits, community leaders, towns and cities and company teams have actually accompanied the North Alabama Conference in expressing concern concerning the usury from the cash advance industry and its own effect in Alabama. Continue reading

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