Monday, April 18, 2016

Battle vs predatory lenders. . .

How a Texas Church Drove Out the Predatory Loan Industry     
For one Garland pastor, living out the gospel means collective political action.
Payday lenders have been having a tough time in Garland, Texas.
Their storefronts have closed, their gaudy signs spray-painted over in black. In recent months, about a third have left the city of 230,000, situated 18 miles northeast of Dallas.
Nobody could be more delighted at their demise than Keith Stewart, senior pastor of Springcreek, Garland’s largest church. Springcreek will not tolerate what Stewart calls the “predatory loan business.” Stewart estimates something like a third of his congregation of 1,700 have been put through the wringer after they (or their family members) secured loans with interest rates easily within the range of 200 to 500 percent.
Read more here.

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