• Rick

    Meanwhile, Arizona lawmakers just passed a law allowing pay day lenders to charge up to 200% interest! Where is the national outrage from Christian leaders??

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  • Sabelotodo2

    And this action by Obama’s “faith leaders” accomplishes it’s principle objective, which is another round of “feel good,”–indeed the goal of this liberal religion of social justice. The truth is, it leaves the poor worse off. Why don’t they DO something that’s helpful, like establishing small limits credit unions in their parishes, that can lend small amounts to tide people over? The poor pay high rates to payday lenders, but they pay even higher amounts in late fees and penalties, and over-draft charges. Nobody talks about that–guess that doesn’t let them feel so good!

  • Samuel Johnston

    Alabama, like many states, had usury laws (8%max) until the Eighties. Bank of America was sued for violating them, so the Banks lobbied (paid off) the legislature and repealed all usury statutes. Now the sky is the limit. One of my clients, a waitress, pays over thirty percent for her car loan. It is a disgrace and the “most respectable” Banks have grown fat off robbing the poor.