Central United Methodist Church
Church & Society Committee Information
Related to the Payday Lending Industry
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SC Conference Board Resolution
CHURCH & SOCIETY COMMITTEE ASKS:
-
Do you
remember that part of our UNITED METHODIST SOCIAL CREED states we
believe in the “elimination of economic and social distress”?
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Do you know
that A RESOLUTION CONCERNING PREDATORY LENDING PRACTICES was passed
at Annual Conference in 2007?
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And that this
resolution condemns the Payday Lending practices and demands
economic justice for the poor?
-
Do you know
that the interest rate charged on payday loans is 391%?
- Do you know S398 was passed on February 19, 2008 REGULATING, but NOT ELIMINATING this industry?
So, what do we do?
| WRITE, E-MAIL, CALL OUR REPRESENTATIVES TO HAVE HEARINGS ON S398 and pass it on to the Governor to sign into law! |
Please use the links to the left for get further information.
| Urgent Update! |
C&S Committee is asking your support to help get a law passed against this egregious industry which will regulate it. The following editorial from the State editorial tells it all and what to do. To read the full article, click on “read more”. And then CALL the committee and ask them not to weaken the bill sent to them from the Senate.
Posted on Thursday, Apr. 17, 2008
House members must pass strong payday lending law
AS EXPECTED, ATTEMPTS are being made to water down a Senate-passed bill that would rein in payday lending and help borrowers escape a cycle of debt.
Members of a House subcommittee started early by stripping away a key element of the Senate bill that was aimed at helping borrowers. Last week, they took out a provision that would have limited the amount a borrower could get at once, based on income. Instead, they set the amount for one loan at a hefty $600.
As the Banking and Consumer Affairs Subcommittee, chaired by Rep. Nikki Haley, R-Lexington, continues its work — it will meet again Tuesday and could take definitive votes — it should reinstate the original language and approve the Senate bill as is or make it stronger. Making it more lender-friendly shouldn’t be an option.
For your convenience I am listing the phone numbers of the subcommittee below. Don’t hesitate to call at home...sometimes it’s the only time to catch them in person. TIME IS OF THE ESSENSE!!!!
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They are: Nikki Haley 803-233-6241, home or 803-734-2970 ( Chair)....she’s a CPA William Bowers 843-549-7586 home or 803-734-2959...Professor of Business Administration and a CPA Joan Brady 803-786-9786 home Grady Brown 803-484-6918 or 803-734-2934...business man Phil Owens 864-306-2909 home or 803-734-3237 retired business man ...he is undecided how he feels! David Mack III 843-760-0198 home or 803-734-3192
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Please, also call your own Representative as well! Thanks, Alice Heavrin, Chair Church and Society, Central United Methodist Church, Spartanburg.