Pay­day lenders: God’s not a fan

Los Angeles Times - - OPINION -

Re “A ‘free pass’ for pay­day lenders,” Col­umn, May 30

David Lazarus’ com­men­tary on leg­is­la­tion to ef­fec­tively dereg­u­late pay­day lenders raises this line of thought for me: I con­tinue to be very con­fused by con­ser­va­tive law­mak­ers’ self-char­ac­ter­i­za­tion of be­ing “Bi­ble­be­liev­ing.”

Ex­o­dus Chap­ter 22 is quite clear about loan­ing money: “If you lend money to my peo­ple, to the poor among you, you shall not deal with them as a cred­i­tor. You shall not ex­act in­ter­est from them.”

Isn’t it im­per­a­tive for be­liev­ers to fol­low this bi­b­li­cal in­junc­tion? One might say they are com­manded to do so, as this verse comes straight from God’s covenant given to the He­brews through Moses on Mt. Sinai (al­low­ing for the lit­eral read­ing usu­ally in­sisted on by con­ser­va­tive Chris­tians who so of­ten pro­claim their de­sire to live by God’s laws).

It seems to me that the work of the Con­sumer Fi­nan­cial Pro­tec­tion Bureau is fol­low­ing the spirit of this bi­b­li­cal law and does not go far enough.

Bar­bara Eurich-Ras­coe Pasadena The writer is a re­tired Pres­by­te­rian min­is­ter.

Lazarus re­ports the ef­forts of the House Fi­nan­cial Ser­vices Com­mit­tee to dam­age the pub­lic.

In writ­ing about the sor­did un­der­belly of Vic­to­rian Eng­land, Charles Dick­ens cre­ated some mem­o­rable leeches on the poverty-stricken pop­u­lace. There was Fa­gin, who today would be a pay­day lender, and Uriah Heep, a snivel­ing syco­phant who would do any­thing for money.

In today’s con­gres­sional world, Heep would be re­named Jeb Hen­sar­ling.

Rep. Hen­sar­ling (RTexas) claims he is ben­e­fit­ing us by gut­ting the in­de­pen­dence of the CRFB and lift­ing all re­stric­tions on pay­day lenders. The fact that he has been lav­ished with mil­lions in do­na­tions by the fi­nan­cial ser­vices sec­tor has noth­ing to do with his ac­tions, he says.

Let him try and sell that to Fa­gin’s Bill Sikes.

Bruce N. Miller Playa del Rey

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