The 2014 North Alabama Annual Conference adopted an answer calling from the Alabama State Legislature to «pass appropriate legislation to suppress those activities of predatory lenders.» The quality noted вЂњprotection associated with bad and disadvantaged is a main concept of christianityвЂќ and вЂњthe Bible forbids usury in a large number of passages.вЂќ (to see the quality, start to see the 2014 North Alabama Conference Journal Vol. I / PreConference Book p 92.)
In 2003, Alabama Legislature passed legislation which carved down a appropriate loophole that enables predatory lending to occur in Alabama. In addition it permits lenders to charge as much as 456 % interest (ARP).
Numerous churches, non-profits, community leaders, metropolitan areas and business teams have actually accompanied the North Alabama Conference in expressing concern about the usury from the loan that is payday and its particular impact in Alabama. Teams are supporting significant reform of AlabamaвЂ™s guidelines managing predatory financing methods.
On Tuesday, February 19, from 7 p.m. to 8 p.m., you will have a forum that is roundtable the abusive payday lending techniques in Alabama at Canterbury United Methodist Church in Canterbury Hall.
Birmingham region churches, including Canterbury United Methodist, St. LukeвЂ™s Episcopal Church, Southside Baptist and First Presbyterian Church are hosting the big event. Regional nonprofits may also be giving support to the forum such as the YWCA, Zonta Club of Birmingham additionally the Alabama Payday Lending Advisory Committee. Читать далее