Highlight of the week:
August 11, Christianity Today:
The Ordinance – a new documentary film co-produced by Deidox Films and Christianity Today
Check out this exclusive free video premiere of how clergy in Texas took on a billion-dollar industry that preyed upon the poor. When the State of Texas did not enact rate cap reform, churches stood up to advance change on behalf of their local communities. It’s 32:46 in length.
Partner Blogs and Statements:
August 7, Florida Alliance for Consumer Protection: City Council of St. Petersburg’s Passes Resolution in Support of New CFPB Rules
St. Petersburg became the fourth city to pass a resolution in favor of strengthening the CFPB’s payday rule.
August 12, CBS News: Payday Lending is evolving and Not for the Better
This article highlights a growing trend in today’s payday lending industry, installment loans. The author fears that this transition is a direct response to the CFPB’s new proposed rule and provides these lenders with a route to side step the entire potential policy. The article includes a couple of short stories from current installment product users. Also, the author uses a Pew study to help defend much of the article’s claims.
August 11, Christianity Today: Texas Pastor: Payday Loan Reform Isn't a Distraction. It's a Christian Duty
This article focuses on Rev. Chad Chaddick’s work fighting the payday loan industry in Texas. His efforts are documented in the movie The Ordinance, and this article serves as an interview with him about his fight against predatory lending. The author covers usury, faith, public policy, and community involvement.
August 11, Las Vegas Now: Payday Loans could face More Restrictions
This article summarizes the events of a payday loan hearing that occurred earlier this week in Las Vegas, hosted by state treasurer Dan Schwartz. The author describes the debt trap and essence of the problem in a state that has no interest rate cap, like Nevada. There is also a video linked on the page that features some of the testimony from the hearing.
August 10, Radio WOSU: Payday Lending Forum in Newark Tuesday Night
This article links to readers to Pay Lending Forum in Newark, NJ. The forum was open to the public and allowed people to come together and talk to members of both the Payday lending industry as well as legislators. This open dialogue took place Tuesday night and is approximately one hour and twelve minutes long. Saint Francis de Sales Catholic Church in Newark hosted the group.