NASHVILLE (BP) вЂ” Self-identified Christians in 30 states вЂ” from Alabama to Wyoming вЂ” say it is a sin to provide cash to a person who canвЂ™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 ChristiansвЂ™ 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.
вЂњAsk individuals if charging you interest that is high incorrect, and theyвЂ™ll say yes,вЂќ McConnell said. вЂњThey forget the Bible calls it that isвЂusury condemns it as sinful.вЂќ
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
вЂ” Christians are not any strangers to payday advances.