Faith leaders & activists host prayer vigils at Check City & Fast Auto Loans to protest predatory lending in Richmond

NEWS RELEASE

This Sunday – faith leaders & activists will host prayer vigils at Check City & Fast Auto Loans to protest predatory lending in Richmond

RICHMOND, Feb. 1, 2020 Faith leaders, students and community activists from the Virginia Interfaith Center for Public Policy (VICPP) will host 2 prayer vigils in Richmond this Sunday to protest predatory lending practices.

#1: Sun., Feb. 2 – 1:30 p.m., Check City, 21 E. Broad St (corner of 1^st and Broad)

VCU students, faith leaders and Kim Bobo, VICPP’s Executive Director, will say prayers and speak in front of a Check City store They will also share stories about the impact of high-interest payday and car title lending on Richmond’s low-income community. Speakers: Rev. Katie Gooch, Director of the Pace Center at VCU and Kim Bobo, Executive Director of VICPP.

#2: Sun. Feb. 2- 5:00 p.m., Fast Auto Loans, 5218 West Broad St.
Richmond activists will say prayers and protest outside of the store. Speakers: Joe Brancoli, Wenda Singer and others

Virginia has become the East Coast capital of predatory lending, where lenders often charge up to 300% interest on short-term loans, offering instant cash without a credit check, for people facing a financial emergency. That loan amount increases exponentially and can trap people in a cycle of debt and lead to financial ruin. Most faiths condemn the practice of usury.  The Virginia Interfaith Center for Public Policy, the Virginia Poverty Law Center, and many legislators are deeply concerned about the lack of regulation in predatory lending practices.

The organizers call upon legislators in the General Assembly to enact laws to regulate lenders and protect hardworking families from predatory lenders. VICPP has a sign on statement to share with legislators calling for Fair Lending reforms that protect borrowers.

Media contact:
Roberta Oster
Communications Director
roberta@virginiainterfaithcenter.org
C: 804-615-4192

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The Virginia Interfaith Center for Public Policy advocates economic, racial, social and environmental justice
in Virginia’s policies and practices through education, prayer, and action.
VICPP is a non-partisan coalition of more than 750 faith communities working for a more just society.