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A debate over payday lending unfolds in the black church

Source: Renae Merle, Washington Post (Paid Registration)

Black churches have become an unexpected battleground in the national debate over the future of payday lending. The Trump administration is reviewing a federal rule that threatens to cripple the industry, while payday lenders find themselves enmeshed in battles in multiple states over their business.

The debate often pits clergy against one another. Payday proponents in the church say the industry provides an important service after years of national banks pulling back from offering loans in regions with large minority or poor populations and black-owned banks all but disappearing.

Read Full Article: A debate over payday lending unfolds in the black church

 
 
 

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