Survey: Christians call ‘payday loans’ sinful, key findings

Survey: Christians call ‘payday loans’ sinful, key findings

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 it.

Most want the national government to safeguard customers from loans with extortionate interest. Nevertheless, 1 in 6 Christians has taken down a payday that is high-interest, while handful of their other believers discover how such loans work or check out the Bible for guidance about reasonable lending.

Those are on the list of findings of a fresh 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 pay day loans.

Most Christians find payday loans not practical and morally debateable, stated Scott McConnell, vice president of LifeWay Research. various seem unaware the Bible addresses lending practices.

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

The study, carried out Feb. 5-17, ended up being sponsored by Faith just for Lending, a nationwide coalition of diverse and nonpartisan faith leaders in opposition to predatory loans. Leer más