Human Dignity  Support Payday Lending Regulations  ERLC Actions  Policy Letter  Predatory Lending

A 2021 Letter in Support of Ending Predatory Loans

Letter sent to the U.S. Senate in May 2021

Scripture condemns usury and teaches us to respect the God-given dignity of each person and to love our neighbors rather than exploiting their financial vulnerability. Thus, just lending is a matter of Biblical morality and religious concern. Fairness and dignity are values that should be respected in all human relationships including business and financial relationships.

We urge churches, lenders, individuals and government to each do their part to teach stewardship, offer responsible products, use credit wisely, encourage just lending and put an end to predatory loans. We call for an end to the exploitation of households and families through the payday debt trap. We call upon Congress to prohibit usury and predatory or deceptive lending practices and write to ask for support of the Veterans and Consumers Fair Credit Act, legislation led by Senators Jack Reed (D-RI), Sherrod Brown (D-OH), and Jeff Merkley (D-OR).

This letter was sent to the United States Senate on May 21, 2021.

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