I am asking that we take careful look at proposition 200 and look at some key biblical teachings before we vote.
Proposition 200 is called the Payday Loan Reform Act. In 2000, the AZ State Legislature and Governor gave the payday loan industry a 10 year exemption on state usury cap laws that limited interest and fees to 36%. I don’t know why they did that. Their license to operate will expire July 1, 2010 and Prop 200 would supposedly reform (it does need reforming) and legalize the industry. But the proposition appears to be reform when in fact it will legalize usury. What is usury?
“Usury is defined as the act of lending money at an unreasonably high interest rate. This rate is defined at the state level. Repayment of loans at a usurious rate makes repayment excessively difficult to impossible for borrowers. This is also called ‘loan sharking’ or ‘predatory lending’.” (www.usurylaw.com)
Usury is morally wrong and a payday loan is the worst of all debt. The very presence of payday loans is allowing people to go into the bondage of debt faster and deeper than ever. They take over 150 million dollars a year in fees from Arizonans. It is possible for a person who uses payday loans to pay around 400% interest. You can never get out debt with that kind of usury. It is oppressive financial bondage.
Given the limited space of my blog, let me ask you to look at some key biblical principles about debt and usury. Make your decision based on biblical teaching and not on the Prop. 200 reasoning that Arizonans need more “choices.”
• Exodus, 22:24-27; Leviticus, 25:35-37 & Deuteronomy, 23:19-21 (The Torah forbids Jews to personally charge interest to Jews!)
• Psalm 15:2-5 (Description of a righteous person who doesn’t practice usury)
• Proverbs 28:8 (Warning against those who practice usury)
• Proverbs 22:7, 26, 27 (Warnings against debt, debt is slavery)
• Psalm 112:5; Isaiah 10:1-4; Jeremiah 5:26-29 (God is a God of justice who demands justice)
The payday loan industry is investing over 10 million dollars to continue the practice of usury (it is a very profitable industry). For the sake of families and financial freedom, I will vote NO on Prop. 200 to stop the legalization of usury. It is the poor and unsuspecting that are victimized the most by this industry.
If you are in debt (payday loans, credit cards, consumer debt, etc) and struggling, we can help. Please call the church office. We have financial counselors who can come along side you to help you work toward financial freedom.
Standing for true financial freedom and justice;
Glen
Good points. Thanks for addressing this issue from a Biblical viewpoint.
Thank you for speaking out on this, Glen, and for giving the definition of *usury*. That term is not often used, in our society, and therefore is not well understood.
Anyone who thinks the people behind this proposition have the good of Arizonans in mind needs to hear or read this message. I, too, appreciate the Biblical basis.
Thank you, Glen. Bad debt is truly a plague. Thank you for the post. I do hope that people take this a step further and get the help they need to become debt free!
Thank to you Glen, now I know how to vote. I thank God for a Pastor like you!
SUPER glad to know you will be addressing some issues during services, as well as on your blog. It is my opinion that Christians in general have become irrelevant in the direction of government. The Center for Arizona Policy estimates that 50% of “church-goers” are not even registered to vote. I strongly believe this is due, at least in part, to a lack of Biblical teaching regarding current legislation, propositions and voting records of our leaders by the church. I fully recognize the desire to avoid partisanship discussions, but how can we go wrong if we examine current issues from a Biblical perspective?
After attending the CPC Share in a Life banquet this past weekend, the importance of this presidential election has become even more urgent in my view. Our next president will likely appoint 2-4 Supreme Court justices. Given that the two primary candidates for president have complete opposite views on abortion, partial birth abortion and the Born Alive Infant Protection Act, I believe that the church needs to understand and educate its members about what is at stake regarding the most fundamental issue we face in this nation…life.
Blessings,
Patrice Habbestad
Glen,
I was so glad that you delt with this issue in a public way. I am one of those voters that scours over every inch of the propositions so that I can make the best, informed decision possible. Unfortunately, many voters will be swayed simply by the title, “Payday Loan Reform”, which sounds great, but is completely misleading.
After a few weeks of seeing the rediculous ads that the payday loan industry are running on tv, I finally got mad enough to find out why I wasn’t seeing the opposing message anywhere in the media. I first contacted the State Attorney General’s Office (Terry Goddard) and expressed my concern since the AG had written an opposing comment in the proposition pamphlet. There is nothing the AG’s office can do, so I kept looking. I finally came across http://www.200isnoreform.com They have lots of info and ways to get involved to spread the word. If anyone else is as outraged by this issue as I am, I encourage them to visit the website and see how they can get involved.
Many of us are passionate about spiritual or political issues but rarely think that we can make a difference–we can!
Thanks again Glen for energizing me to action!
Ericka