Catholics leaders in US call for nationwide limitation on cash loan interest

Catholics leaders in US call for nationwide limitation on cash loan interest

Catholics in the us are pushing for the nationwide, bipartisan bill which will limit the interest cost on payday and vehicle name loans.

“Payday funding is present time usury. These short-term, high-interest loans prey through the financial hardship of bad and prone customers – all into the passions of big profits, which simply come when customers fail, ” the Montana Catholic Conference stated in a Feb. 12 statement.

“This training contradicts that are straight Catholic knowing that the section of this economy is always to offer people, perhaps not just one other means around. Read more