People in the Kentucky Baptist Fellowship rallied Tuesday, Feb. 24, during the state capitol in Frankfort, after a Monday afternoon seminar in the “debt trap” developed by payday financing.
Speakers at a press meeting within the capitol rotunda included Chris Sanders, interim coordinator associated with the KBF, moderator Bob Fox and Scarlette Jasper, used by the nationwide CBF worldwide missions division with Together for Hope, the Fellowship’s rural poverty initiative.
Stephen Reeves, connect coordinator of partnerships and advocacy during the Decatur, Ga.,-based CBF, stated Cooperative Baptists around the world opposing abuses associated with the pay day loan industry aren’t anti-business, but, “if your company is dependent upon usury, is dependent upon a trap — if it depends on exploiting your next-door neighbors right if they are at their many desperate and vulnerable — then it is time to find a unique enterprize model.”
The KBF delegation, section of a broad-based team called the Kentucky Coalition for Responsible Lending, voiced support for Senate Bill 32, sponsored by Republican Sen. Pokračování textu Baptists in Kentucky help cap on pay day loans. Tests also show the payday that is average removes 10 loans per year.
