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Center for American Progress

Addressing Predatory Lending Practices Through Policy and Faith
Article

Addressing Predatory Lending Practices Through Policy and Faith

Both moral obligation and sound economic policy necessitate an end to predatory lending practices.

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idea_bulbAs regulators and policymakers consider how to respond to the proliferation of high-cost, short-term predatory loans that trap struggling families in a cycle of debt, they should look not only to concerned consumer advocates but also to faith groups advocating for fair lending practices, organizing for increased consumer protection, and encouraging responsible alternatives to predatory products. These efforts reflect faith groups’ commitment to our nation’s communities, as well as their mission to serve.

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