The 2014 North Alabama Annual Conference adopted an answer calling in the Alabama State Legislature to “pass appropriate legislation to suppress the actions of predatory lenders.” The quality noted вЂњprotection of this poor and disadvantaged is really a main principle of christianityвЂќ and вЂњthe Bible forbids usury in dozens of passages.вЂќ
In 2003, Alabama Legislature passed legislation which carved away a loophole that is legal enables predatory lending to occur in Alabama. Moreover it permits lenders to charge as much as 456 per cent interest (ARP).
Numerous churches, non-profits, community leaders, urban centers and company teams have actually accompanied the North Alabama Conference in expressing concern concerning the usury from the loan that is payday and its own effect in Alabama. Teams are supporting significant reform of Alabama’s laws and regulations regulating lending that is predatory.
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. Luke’s Episcopal Church, Southside Baptist and First Presbyterian Church are hosting the function.