Christmas Grinch: Payday Loan a Mean Holiday Trap
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.