(CSM) Anglican Church sets its sights on predatory lenders

It was not the ideal start to the Archbishop of Canterbury’s grand initiative to bring a new morality to Britain’s banking sector….

But despite the stumble out of the gate, Welby appears committed to taking on payday loans ”“ small, high-interest, short-term loans to those who can’t get credit elsewhere ”“ as a means of “speaking for the poor.” And his plan raises questions about just how much clout the Church of England wields through its portfolio of investments and through the influence the church has over its flock ”“ how it ought to wield it.

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Posted in * Anglican - Episcopal, * Economics, Politics, * International News & Commentary, --Justin Welby, Anglican Provinces, Archbishop of Canterbury, Church of England (CoE), Corporations/Corporate Life, Economy, England / UK, Ethics / Moral Theology, Personal Finance, Politics in General, The Banking System/Sector, Theology

2 comments on “(CSM) Anglican Church sets its sights on predatory lenders

  1. sandlapper says:

    This is a laudable effort. The Old Testament prophets spoke harshly against the mistreatment of the poor, and loan sharking is an obvious mistreatment. At the same time, mere government regulations are not the best answer. Better for believers to provide a healthy alternative. Bravo to the ABC.

  2. Sarah1 says:

    It’s certainly very nice — but so utterly random, and such small fry, that it reminds me of famous/infamous incidents of wag-the-dog.

    Perhaps all the hand-waving and moralizing and huffing will distract those who are under his leadership from the actual horrific state of his own church and the imminent catastrophic divisive acts and decisions which he appears to be ineffectual at impeding or resolving.

    Oh well. Perhaps he can appear effectual and competent at “payday lending” cleanup.

    All of us are often incompetent at our own actual jobs — which is why it is so gratifying to announce a “de-litter our streets” campaign to the press, and trot out to pick up trash by the roadside, with cameras rolling of course.