Faith & Credit: restoring integrity to our financial system
For people of faith,
responsible lending is a moral concern.
Religious texts warn against usury and faith-communities frequently work with families facing foreclosure or debt brought about, in part, by predatory lending.The United States is undergoing the most severe financial crisis of this generation.
For many people of faith, the crisis is a moral as well as an economic one. It was rooted in unsustainable and even usurious lending and has resulted in foreclosure and loss of a home and stability for millions of families.
As government leaders undertake the work of financial reform, the voice of faith communities is critical to restoring integrity to our financial system.
Nearly 300 clergy of varying faiths and denominations from 41 states have formally requested that President Barack Obama and Members of Congress enact meaningful reforms to help keep American families in their homes this holiday season. Following a morning news conference on December 14, a delegation of clergy and struggling homeowners presented the written appeal to members of the White House National Economic Council.
One of the day's speakers, Rabbi Jack Moline issued a prepared statement that urged federal officials to recognize the moral as well as economic dilemmas the nation now faces.
Take Action
- National religious leaders speak out against predatory lending and for restored financial integrity (PDF)
The Faith-Based Program at CRL
Clergy and faith leaders have long been powerful voices against abusive lending. The Faith-Based Program works to amplify these voices through research and policy, campaign support, and religious reflection.
Predatory Lending and the Financial Crisis
- Faith And Credit: Restoring Integrity to the Financial System
- Learn more about efforts to prevent predatory lending through creation of a Consumer Financial Protection Agency
Religious resources on debt and lending
- Pope Benedict XVI’s recent encyclical, Caritas in Veritate, considered the moral dimensions of the economy and the ethical responsibilities of business.
- A Reformed Understanding of Usury for the 21st Century provides history and analysis of lending from a Reformed Christian understanding
- The Commission on Social Action of the Union of Reform Judaism adopted a resolution on ethical consumer credit lending practices
- 10% is Enough: An interfaith anti-usury campaign reviews various religious and historical teachings on usury.
