A Catholic viewpoint:
Among you, you must not be like a money lender; you must not demand interest from them.вЂќ[1вЂњIf you lend money to my people, the poor] Usury includes not merely exorbitant interest, but any interest that exceeds the  that is major nonetheless, civil legislation often simply leaves acts unpunished not because they’re advantageous; recharging interest on loans has dropped into this category since at the very least the 15 th century.[3 since they are simply, but] Yet Texans can at least enhance lawful restrictions which allow predatory loan providers to oppress poor people with extortionate interest and loans built to trap borrowers in rounds of financial obligation.
We’ve seen payday and automobile name lending storefronts flooding shopping malls and communities.
Our parishes and Catholic Charities witness the high price of being bad each and every day even as we assist families forced into alarmingly high financial obligation to protect unforeseen costs. Continue reading