Canterbury UMC to host Payday Lending forum that is roundtable

Canterbury UMC to host Payday Lending forum that is roundtable

The 2014 North Alabama Annual Conference adopted an answer calling in the Alabama State Legislature to “pass appropriate legislation to control those activities of predatory lenders.” The quality noted “protection associated with the bad and disadvantaged is really a principle that is central of” and “the Bible forbids usury in a large number of passages.” (to see the quality, look at 2014 North Alabama Conference Journal Vol. We / PreConference Book p 92.)

In 2003, Alabama Legislature passed legislation which carved down a loophole that is legal enables predatory lending to occur in Alabama. In addition it permits lenders to charge up to 456 % interest (ARP).

Numerous churches, non-profits, community leaders, urban centers and company teams have actually accompanied the North Alabama Conference in expressing concern in regards to the usury from the cash advance industry as well as its effect in Alabama. Teams are supporting significant reform of Alabama’s guidelines managing predatory financing techniques.

On Tuesday, February 19, from 7 p.m. to 8 p.m., you will have a roundtable forum regarding the abusive payday lending techniques in Alabama at Canterbury United Methodist Church in Canterbury Hall.

Birmingham region churches, including Canterbury United Methodist, St. Luke’s Episcopal Church, Southside Baptist and First Presbyterian Church are hosting the big event.

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