July 2, 2013 Martin Mallon (Ireland) Martin's previous articles
Archbishop’s Crusade to Drive Out Payday Lenders
The
leading article in the Business section of The Sunday Times of June 30, titled Archbishop’s
Crusade to Drive Out Payday Lenders, describes one of the many things
the Church should be doing in the present times of economic austerity. The
Archbishop:
Is
to make a direct attack on payday lenders and loan sharks with a “10-year”
crusade to drive them out of business.
Some
of these lenders set interest rates in excess of 5,000% per annum.
Unfortunately
for our Catholic Church it is the Archbishop of Canterbury who is directing this
crusade. He has taken practical steps to cut out these payday lenders by
ensuring:
A team of experts at Lambeth Palace has drawn up proposals to put the
Church of England’s considerable assets to work expanding the credit union
movement. Small, local lenders could be invited to use church buildings as
branches to help them to reach more people.
A nationwide campaign will be launched to encourage Anglicans with
relevant skills to volunteer at their local credit unions.
It
is to be hoped that Catholics will also listen to Archbishop Justin Welby’s
call and volunteer as well.
It
is also to be hoped that the Catholic Church in the United Kingdom and in
Ireland will follow Welby’s example and attempt to eliminate the need for
these vipers, payday lenders, in our society. It is difficult to understand why
our bishops and clergy are not condemning such lenders and insisting that
governments intervene to protect the vulnerable in our society who are being
sucked dry by these leeches.
The
Archbishop hopes that:
...a
thriving alternative credit movement will one day mean that payday lenders
simply are not
necessary.
The
article goes on to point out that:
Credit
unions can lend only to people who have a “common bond” to the other members
– be that a place of work, a social club or a local community.
It
is uplifting to read of a Christian bishop at last doing something about the
economic crisis and its impact on the poor. Prayers are badly needed, but God
often answers these prayers through people acting on inspiration received from
the Holy Spirit, as it appears Archbishop Welby is doing in this case.
Our
bishops and clergy should be more outspoken in calling for the alleviation of
the effects of the economic crisis and austerity on the most vulnerable in our
society. Let us pray that they find their voices and take action where
appropriate, as in the case of the Anglican Archbishop Welby. Thank God for him!
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