Religion and Payday Lending
Tuesday, October 7th, 2008 By Marc KilmerAlthough a few liberal clergy want you to think that God condemns payday lending, it seems there is a difference of opinion on this subject. As the Dispatch reports today, a Christian group has come out in opposition to the ban on payday lending.
There are religious aspects being discussed in this debate (as I examine here), but no one should assume that there is a correct “Christian” position on this. Christians can differ on this issue. The Bible does not have a clear roadmap to discern how one should vote on Issue 5. In fact, the theological implications of banning payday lending are so unclear that one should be skeptical of anyone who claims to know God’s will on this subject. This is a vote on economics, not theology. Given this situation, as I’ve demonstrated in a study and Dr. Tom Lehman has demonstrated in his testimony before the General Assembly, it’s clear that banning payday lending is a horribly misguided way of helping Ohio’s economy.
Tags: payday lending, Regulation
October 14th, 2008 at 6:03 am
The short term financial assistance that payday lenders offer, often are one of the fastest and safest ways out of a sticky financial situation if used responsibly. Unfortunately, people of somewhat political importance don’t see it this way, probably because they have never been in a situation that would require a little help from the payday loan industry. These bipartisan efforts to outlaw the entire industry just go to show how detached they are from real Americans. Get educated on the facts today and exercise your right to financial freedom on November 4th.