Do good, and control the evils of predatory banking, payday advances

Do good, and control the evils of predatory banking, payday advances

Recently Pope Francis weighed in on usury — the lending of cash at excessive rates of interest. “Usury humiliates and kills”, the Pope believed to an organization established to oppose its training. Its, he included, “a historical and regrettably still concealed evil that, just like a snake, strangles its victims.”

Victims of usury are often the working bad and senior on fixed incomes whom whenever confronted with an economic crisis seek a loan that is short-term. Some autumn victim to “loan sharks” who provide at excessive interest levels and make use of blackmail or threats of physical violence to gather to their debts. (into the film, Rocky, the protagonist ended up being a “collector” for the loan shark in the community before his boxing job took down.) These techniques are, needless to say, unlawful. Continue reading “Do good, and control the evils of predatory banking, payday advances”