Texas leads the country in payday car and lending title loan companies with over 3,000 storefronts throughout the state. Payday loan providers are both a blessing and a curse: on one side, they meet a necessity; on the other side, they are doing therefore through sky-high rates of interest.
This is exactly why communities of faith are becoming mixed up in work to higher regulate them. But should faith leaders get involved with cash matters?
John Hill has been the United Methodist Church. He states faith leaders are commanded to get justice that is financial.
“there is actually no wiggle space on this,вЂќ Hill says. вЂњThere are explicit mandates against charging usury as interest вЂ“ that’s clear when you look at the Old Testament.