Without a doubt about Survey: Christians call ‘payday loans’ sinful

Without a doubt 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 is a sin to provide cash to an individual who can not manage to repay it.

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

Those are on the list of findings of an innovative new 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, most of which don’t have a lot of or no legislation of payday advances.

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

“Ask individuals if charging you high interest is 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.

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