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Washington D.C., Feb 13, 2020 / 07:01 pm (CNA).- Catholics in the US are pushing for a national, bipartisan bill that would limit the interest rate on payday and car title loans. “Payday lending is modern day usury. These short-term, high-interest loans prey on the financial hardship of poor and vulnerable consumers – all for the sake of big profits, which only come when consumers fail,” the Montana Catholic Conference said in a Feb. 12 statement. “This practice directly contradicts our Catholic understanding that the role of the economy is to serve people, not the other way around.” The conference is urging Catholics in Montana to contact U.S. Rep. Greg Gianforte, who represents Montana’s at-large congressional district, to urge him to support the Veterans and Consumers Fair Credit Act of 2019. (H.R.5050).

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