Senate Bill 694 is Backdoor Boost to Payday Lenders
As people of faith representing hundreds of thousand of signers of the initiative petition to cap interest rates on predatory payday loans In Missouri, a coalition of faith organizations* stands opposed to Senate Bill 694. Â From the Torah to the Christian Gospel to Catholic Social Teaching, the teachings of religious traditions are clear: It is immoral to charge triple digit interest on consumer loans.
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* Communities Creating Opportunity in Kansas City, Metropolitan Congregations United in St. Louis and Missouri Faith Voices statewide