Baptists Join Fight Against Payday Predators
A Tennessee Loan Shark on the Prowl
Momentum is building to rein-in the legalized loan sharking that is payday lending.
We recently introduced The Loan Shark Ledger — a chronicle of the usurious practices of payday lenders.
Just this week, religious leaders representing a diverse group of faiths, including the Nashville-based Southern Baptist Convention, announced a bold stand against the predatory practices of payday lending.
Here’s what one leader had to say:
Russell Moore, head of the Southern Baptist Convention’s moral concerns agency, denounced payday lending — short-term, high-interest loans that commonly trap borrowers in a cycle of recurring debt — as “a form of economic predation that grinds the faces of the poor into the ground.”
“As Christians, we are called by Jesus, by the prophets and by the apostles to care for the poor, individually, and also about the way social and political and corporate structures contribute to the misery of the impoverished,” Moore said. “Groups across this diverse coalition don’t agree on every issue in the public square, but I am happy to work together on this issue to stand against unchecked usury and work for economic justice, human dignity and family stability.”
We’re going to keep fighting to bring attention to the issue of payday lending and the debt trap it causes.
And, we need your help!
If you find a story on payday lending you’d like us to share, send it to email@example.com
And remember, we count on your support to win the fight against payday lending loan sharks in Tennessee. Your contribution of $5 or $10 today will help keep the Loan Shark Ledger coming and keep the fight against legalized loan sharking alive.
Thanks for all you do to help keep us strong!
Keep up with payday lending and other important consumer rights issues by following us @TNCitizenAction