Christmas Grinch: Payday Loan a Mean Holiday Trap
12-31-1969
The biggest shopping season of the year is in full swing and many consumers are entering the holidays strapped for cash.
Some consumers will max out their credit cards and others may be considering taking out a payday loan.
Payday loans, and car title loans are quick ways to get money without the hassle of a credit check. But these popular loans are trapping many Americans in a crushing cycle of debt.
What can churches do to help? The National Association of Evangelicals recently called for an investigation in predatory lending abuses. CBN News spoke with the NAE's Galen Carey about how the issue. Click play to watch.
About The Author
Charlene
Aaron
Charlene Aaron serves as a general assignment reporter, news anchor, co-host of The 700 Club, co-host of 700 Club Interactive, and co-host of The Prayerlink on the CBN News Channel. She covers various social issues, such as abortion, gender identity, race relations, and more. Before joining CBN News in 2003, she was a personal letter writer for Dr. Pat Robertson. Charlene attended Old Dominion University and Elizabeth City State University. She is an ordained minister and pastor’s wife. She lives in Smithfield, VA, with her husband.
