Let me make it clear about Survey: Christians call ‘payday loans’ sinful

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NASHVILLE (BP) — Self-identified Christians in 30 states — from Alabama to Wyoming — say it’s a sin to provide cash to a person who can’t manage to repay.

Many want the federal federal government to guard customers from loans with extortionate interest. Nevertheless, 1 in 6 Christians has taken away a high-interest pay day loan, while handful of their fellow believers discover how such loans work or turn to the Bible for guidance about reasonable financing.

Those are one of the findings of an innovative new survey that is online of’ views of payday financing from LifeWay Research. The Nashville-based research company surveyed 1,000 self-identified Christians in 30 states, every one of which don’t have a lot of or no legislation of payday advances.

Most Christians find payday loans impractical and morally debateable, stated Scott McConnell, vice president of LifeWay Research. various appear unaware the Bible addresses lending practices.

“Ask people if billing interest that is high incorrect, and they’ll say yes,” McConnell said. “They forget the Bible calls it that is‘usury condemns it as sinful.”

The study, conducted Feb. 5-17, had been sponsored by Faith just for Lending, a nationwide coalition of diverse and faith that is nonpartisan in opposition to predatory loans.

Among the list of findings that are key

— Christians are not any strangers to payday advances. Overall, 17 % of Christians have taken payday advances — 20 % of Protestants and 12 per cent of Catholics. 1 / 2 of African American Christians (49 percent) and 25 % of Hispanic Christians (24 %) state they have taken down an online payday loan.

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