DECATUR, Ga. вЂ” Cooperative Baptist Fellowship leaders spoke down from the choice announced today of this customer Financial Protection Bureau to eliminate debtor safeguards designed to make sure that vulnerable customers are able to repay short-term, high-interest вЂњpaydayвЂќ loans.
The cooperative Baptist Fellowship has sought justice for those who have been victimized by the immoral and sinful practice of predatory lending,вЂќ said CBF Executive Coordinator Paul BaxleyвЂњFor nearly a decade. вЂњWe have already been persistent in this pursuit because quite a few congregations have actually heard a calling to love and provide the poorest in our midst, plus in therefore doing have actually met those whose life have now been torn aside by predatory lending. Our CBF field workers and Together for Hope leaders came in person using the devastating effects of pay day loans. We can’t keep silent as siblings and brothers in Christ are damaged, and now we cannot overlook the systemic racial injustice inherent in this industry.
вЂњThis form of injustice is exactly what stirred the prophet Amos to cry out resistant to the leaders of Israel whom offered вЂthe righteous for silver and also the needy for a set of sandals, who trample your head of this bad in to the dust associated with the planet and push the afflicted taken care ofвЂ™ (Amos 2:6). He continued to express: вЂHear this, you that trample in the needy and bring to destroy poor people associated with the landвЂ¦.The Lord has sown by the pride of Jacob, certainly we will keep in mind some of their deedsвЂ™ (Amos 8:4, 7). Continue reading CBF leaders speak out against rollback of вЂpaydayвЂ™ loan regulation