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NASHVILLE (BP) вЂ” Self-identified Christians in 30 states вЂ” from Alabama to Wyoming вЂ” say it is a sin to provide money to an individual who can’t manage to repay it.
Many want the federal government to safeguard customers from loans with exorbitant interest. Still, 1 in 6 Christians has taken down a high-interest pay day loan, while number of their other believers know how such loans work or aim to the Bible for guidance about reasonable financing.
Those are on the list of findings of an innovative new survey that is online of’ views of payday financing from LifeWay Research. The research that is nashville-based surveyed 1,000 self-identified Christians in 30 states, each of which don’t have a lot of or no legislation of pay day loans.
Most Christians find payday loans impractical and morally debateable, stated Scott McConnell, vice president of LifeWay analysis. various appear unaware the Bible addresses lending practices.
вЂњAsk individuals if charging you high interest is incorrect, and they’re going to say yes,вЂќ McConnell said. вЂњThey forget the Bible calls it that isвЂusury condemns it as sinful.вЂќ