Clerics, Faithful Protest at Payday Lender to Back Reform Bill

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Denver Post 
March 18, 2010
Draper, Electa

Nearly two dozen protestors converged in front of a ACE Cash Express payday loan outlet in Denver on March 17, rallying for the abolishment of what they said are unfair lending practices. The "Payday Pray Day" event was punctuated by an impassioned sermon on usury from the Rev. Patrick Demmer, pastor of Graham Memorial Church of God and Christ. "All you do is hurt people who cannot be hurt anymore," the cleric declared. "It is wrong. It is against God. It is immoral." Demmer also compared payday lending to "sharecropping." Protest organizer -- the Colorado Progressive Coalition -- also sought to drum up support for Colorado House Bill 1351, which would impose a 36 percent limit on payday loan interest for payday lenders that currently are exempt from the state cap and charge more than 520 percent annual interest. The measure enjoys the endorsement of clerical leaders from diverse denominations.
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