Thursday, May 3, 2007

Predatory Payday Lending

That's the issue that B.R.E.A.D. (our local church based social justice group) is taking on at next week's meeting. According to George, our rector, this is the first issue the group has taken on where there are actually lobbyists working against us.

Unfortunately, because I'm working these 10-hour days this week, I don't have time to research and put together a good post about the issue.  Hopefully George will find the time to e-mail me the sermon he gave about this issue a couple weeks ago, because that was a good summary of what we're dealing with, and why it's important.

In the meantime, the Wikipedia page on payday loans has a good overview of some of the controversy around these businesses. There is also an overview on the Center for Responsible Lending web site and more information at Policy Matters Ohio.