Pastor: Ohio legislation, church might help with payday financing

Pastor: Ohio legislation, church might help with payday financing

COLUMBUS, Ohio (BP) — Ohio’s law that is new payday lending is a vital advance, nevertheless the church plays an important role in assisting those who frequently become casualties of this predatory industry, Southern Baptist pastor David Gray states.

Gov. John Kasich signed into legislation July 30 just what some advocates have actually referred to as a model for the nation in handling abuses by loan providers who frequently draw the indegent in to a financial obligation trap by asking excessive, and sometimes deceptive, rates of interest. (more…)