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Thu Apr 8, 2021, 12:21 AM

How Black Churches Helped Dallas Rein In Payday Lenders

In 2009, Rev. Danielle Ayers was approached by a member of her church who said he was stuck. Hed taken out a payday loan for a few hundred bucks, and he couldnt pay it off.

Ayers is the pastor for justice at Friendship-West Baptist Church, and she was confused: How could a small loan be such a big problem?

I was like, Can you just bring me your loan documents? she recalled. Im thinking, I dont know, two pages for a small-dollar loan. I wasnt thinking anything extensive. And it was a thick packet.

Ayers was floored by what she read: Exorbitant fees and terms that seemed designed to trip people up. The man had already refinanced the loan a couple of times, racking up more and more debt.

Read more: https://www.texasstandard.org/stories/how-black-churches-helped-dallas-rein-in-payday-lenders/

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Reply How Black Churches Helped Dallas Rein In Payday Lenders (Original post)
TexasTowelie Apr 8 OP
LeftInTX Apr 8 #1

Response to TexasTowelie (Original post)

Thu Apr 8, 2021, 04:35 AM

1. Awesome!!

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