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NASHVILLE (BP) вЂ” Self-identified Christians in 30 states вЂ” from Alabama to Wyoming вЂ” say it is a sin to provide cash to an individual who can not manage to repay it.
Many want the federal government to guard customers from loans with extortionate interest. Nevertheless, 1 in 6 Christians has taken away a high-interest cash advance, while number of their other believers discover how such loans work or check out the Bible for guidance about reasonable financing.
Those are among the list of findings of a fresh survey that is online of’ views of payday financing from LifeWay Research. The research that is nashville-based surveyed 1,000 self-identified Christians in 30 states, each of which have actually little or no legislation of payday advances.
Most Christians find payday loans not practical and morally dubious, stated Scott McConnell, vice president of LifeWay Research. various appear unaware the Bible addresses lending practices.
вЂњAsk people if recharging interest that is high incorrect, and they are going to say yes,вЂќ McConnell said. вЂњThey forget the Bible calls it that isвЂusury condemns it as sinful.вЂќ
The study, carried out Feb. 5-17, ended up being sponsored by Faith for only Lending, a nationwide coalition of diverse and faith that is nonpartisan in opposition to predatory loans.
One of the key findings:
вЂ” Christians are no strangers to payday advances. Overall, 17 % of Christians have taken payday advances вЂ” 20 per cent of Protestants and 12 per cent of Catholics. Continue Reading →