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 is a sin to provide cash to a person who can’t manage to repay it.

Many want the national federal federal government to safeguard customers from loans with exorbitant interest. Nevertheless, 1 in 6 Christians has taken away a high-interest payday loan, while number of their fellow believers discover how such loans work or aim to the Bible for guidance about reasonable financing.

Those are among the list of findings of a fresh paid survey of Christians’ views of payday lending from LifeWay Research. The Nashville-based research company surveyed 1,000 self-identified Christians in 30 states, every one of which have actually little or no regulation of payday advances.

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

“Ask individuals if charging you 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, carried out Feb. 5-17, had been sponsored by Faith just for Lending, a national coalition of diverse and nonpartisan faith leaders in opposition to predatory loans.

On the list of findings that are key

— Christians are not any strangers to payday advances.