Dak
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https://www.washingtonpost.com/busi...ory.html?noredirect=on&utm_term=.5cfbb6e08044
This is actually a really fucking difficult issue and I find this incredibly interesting.
Black churches have become an unexpected battleground in the national debate over the future of payday lending. The Trump administration is reviewing a federal rule that threatens to cripple the industry, while payday lenders find themselves enmeshed in battles in multiple states over their business.
The debate often pits clergy against one another. Payday proponents in the church say the industry provides an important service after years of national banks pulling back from offering loans in regions with large minority or poor populations and black-owned banks all but disappearing.
Longtime opponents of payday lending have sometimes been blindsided by the advocacy of their religious brethren. They say that payday proponents are misreading not only the financial realities of borrowing at dangerously high rates but also biblical teachings — and are being co-opted or bought by an industry with a long history of exploiting African Americans.
“We lost the battle, but the war is not over,” said the Rev. James T. Golden, pastor of the Ward Temple AME Church in southwest Florida. The faith leaders who sided with payday lenders make up a sliver of the state’s faith community, said Golden, who is helping mobilize a coalition to block the Florida law from going into effect next year, including enlisting ministers and pastors who have yet to pick a side.
This is actually a really fucking difficult issue and I find this incredibly interesting.