Last week, the House of Representatives voted 218-208 to repeal the Office of the Comptroller of the Currency’s (OCC) 2017 ‘True Lender’ rule. Republican Rep. Glenn Grothman (WI-06) voted to pass this bipartisan Congressional Review Act (CRA) aimed at the OCC’s misguided rule. The bill now heads to President Biden’s desk for his signature or …
Continue...Last night, the Senate voted 52-47 to repeal the Office of the Comptroller of the Currency’s (OCC) 2017 ‘True Lender’ rule. Republican Sens. Lummis (WY), Collins (ME), and Rubio (FL) voted to pass this bipartisan Congressional Review Act (CRA) aimed at the OCC’s misguided rule. The bill now heads to the House of Representatives for …
Continue...Jeff Pickering and Brooke Kramer are joined by the Rev. Dr. Gabriel Salguero to discuss why Christians should care about ending the payday debt trap and how the Faith for Just Lending (FJL) coalition is advocating against payday lending. Salguero is the pastor at The Gathering Place, a Latino-led multi-ethnic Assemblies of God congregation in …
Continue...The ERLC opposes unjust lending practices that exploit the vulnerable, are predicated on consumer loss, and trap families in cycles of debt. Payday lending serves as a significant contributing factor to the economic struggle for many Americans. The practice of providing short-term cash loans at unreasonably high interest rates forces families and individuals to make …
Continue...The ERLC opposes unjust lending practices that exploit the vulnerable, are predicated on consumer loss, and trap families in cycles of debt. Payday lending serves as a significant contributing factor to the economic struggle for many Americans. The practice of providing short-term cash loans at unreasonably high interest rates forces families and individuals to make …
Continue...WASHINGTON, D.C., April 11, 2016Barrett Duke of the Ethics & Religious Liberty Commission will join other leaders from a diverse coalition of faith-based institutions Wednesday, April 13, at 1 p.m. ET for a press call to discuss the findings of a new LifeWay Research poll and a Faith for Just Lending report. The Faith for …
Continue...Earlier this month the ERLC joined other faith organizations in forming the Faith for Just Lending Coalition. The purpose of the coalition is to raise awareness about families in financial crisis and how high-cost lending negatively impacts them. One industry that frequently takes advantage of the poor and others in financial distress is payday lending. …
Continue...WASHINGTON, D.C., May 14, 2015The Ethics and Religious Liberty Commission of the Southern Baptist Convention has joined other faith organizations in forming the Faith for Just Lending Coalition. The purpose of the coalition, announced today at a press conference on Capitol Hill, is to raise awareness about families in financial crisis and how high-cost lending …
Continue...Catching a fish is a fairly simple act. You catch a fish by disguising the hook in something it likes to eat. The fish becomes so excited about the prospects of getting a good meal that it bites first and looks later. Many fine meals have landed on my plate by that simple act of …
Continue...What is payday lending? Payday lending is the term used to describe the practice of lending small amounts of money to people, usually $350 or less, for two week periods, i.e., until their next payday. In return the borrower pays interest on the loan when it is due at the end of the loan period. …
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