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Canterbury UMC to host Payday Lending roundtable forum

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Canterbury UMC to host Payday Lending roundtable forum

The 2014 North Alabama Annual Conference adopted an answer calling in the Alabama State Legislature to “pass appropriate legislation to control the actions of predatory lenders.” The quality noted “protection associated with the bad and disadvantaged is just a main concept of christianity” and “the Bible forbids usury in a large number of passages.” (to learn the quality, begin to see the 2014 North Alabama Conference Journal Vol. We / PreConference Book p 92.)

In 2003, Alabama Legislature passed legislation which carved out a loophole that is legal enables predatory lending to occur in Alabama. In addition enables lenders to charge as much as 456 per cent interest (ARP).

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