People in the Kentucky Baptist Fellowship rallied Tuesday, Feb. 24, in the state capitol in Frankfort, after having a Monday afternoon seminar regarding the “debt trap” produced by payday financing.
Speakers at a press meeting within the capitol rotunda included Chris Sanders, interim coordinator regarding the KBF, moderator Bob Fox and Scarlette Jasper, used by the nationwide CBF worldwide missions division with Together for Hope, the Fellowship’s poverty initiative that is rural.
Stephen Reeves, connect coordinator of partnerships and advocacy during the Decatur, Ga., based CBF, said Cooperative Baptists around the world opposing abuses associated with cash advance industry aren’t anti company, but, “if your organization is dependent upon usury, varies according to a trap if this will depend on exploiting your next-door neighbors appropriate when they’re at their many desperate and susceptible then it is time to find a brand new enterprize model .”
The KBF delegation, element of an easy depending group called the Kentucky Coalition for Responsible Lending, voiced support for Senate Bill 32, sponsored by Republican Sen. [Read more...]