Catholics leaders in US call for nationwide restriction on pay day loan interest

Catholics leaders in US call for nationwide restriction on pay day loan interest

“Payday financing is present day usury. These short-term, high-interest loans prey from the pecuniary hardship of bad and susceptible customers – all with regard to big earnings, which just come whenever customers fail,” the Montana Catholic Conference stated in a Feb. 12 declaration. “This training straight contradicts our Catholic knowing that the part for the economy is always to serve individuals, maybe perhaps not one other way around.” he seminar is urging Catholics in Montana to make contact with U.S. […]