“The borrower is the slave of the lender” Proverbs 22:7 (ESV).
My name is Abraham Hamilton, III and this is The Hamilton Minute.
Newly published information from Lifeway Research shows 77% of self-identified Christians in dozens of states think it’s a sin to lend money to someone who can’t afford to pay it back. Still, few say payday loans are immoral and one in six Christians have admitted to taking out a high-interest payday loan.
The federal government’s Consumer Financial Protection Bureau says the typical two-week payday loan charges the equivalent of a 400% interest rate.
These “sharks” prey on the poor, elderly, and most vulnerable in society.
Sound the alarm and make sure your family, church, and neighborhood steer clear of this vermin.