Which of you who, if your child asks for a fish, will give him a snake instead? Or if he asks for an egg, will give him a scorpion?; Luke 11:11-12
This is a moral stand, not a political campaign.
Join our movement to protect all Virginians from predatory payday lending. Sign the Faithful Pledge and let government decision makers know that no one should be charged more than 36% APR on any loan. Loan sharking should never be legalized.
God calls us to compassion; to alleviate the suffering of the poor; to speak up for the voiceless; and to protect those who live closest to the edge.
Our faith leads us to abhor usury; to reject profiting from another’s vulnerability; to turn away from greed;
And our faith compels us to connect our values with the moral issues of the day.
We believe that eliminating poverty is a faithful mandate, that creating opportunity for people is an achievable goal, and that to these ends, predatory payday lending undermines our mission.
Read Below for the full Faithful Pledge petition. Be sure to sign the petition above. If you would like to provide additional support, you can send the petition text to your legislator.
I believe that lending should help build a future, not destroy it with triple digit interest rates and downward spirals of debt.
I believe that Virginians should have access to short-term, small loans; but before the door for viable options will open, the door to predatory payday loans must close.
I believe that individuals, faith communities, financial institutions, businesses and government must work together to create responsible solutions and promote financial literacy.
I call on our state lawmakers to join signers of this faithful pledge for the common good; to provide us with an environment in which our efforts are supported, not undermined by legal loopholes that benefit predatory lenders. I believe Virginians should be protected from usury that's disguised as fees, and to make room for real, viable short-term lending options that will reduce poverty, brighten a future and create safer and stronger neighborhoods.
The 2002 Payday Loan Act provides a special exemption for this one industry from Virginia's usury cap law. I call on our Virginia state legislators to remove this special exemption and cap the interest of payday loans to 36% APR.
Signed by:
[Your name]
[Your address]
