usury

White House Joins Faith Leaders in Call to Rein in Payday Lenders

Image via James R. Martin / Shutterstock.com

White House officials have joined faith leaders in endorsing an end to payday lending abuses that often charge triple-digit interest rates. Valerie Jarrett, Cecilia Munoz, and Jeff Zients, all top aides to President Obama, met April 14 with religious leaders from across the country who described “heart-wrenching stories” of congregants whose lives had been ravaged by payday loans.

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