by Rev. Gordon Rankin, UCC South Dakota Conference Minister
"Christian teaching tells us we are not to take advantage of those who are disadvantaged. In that spirit, at our June Annual Meeting, the South Dakota Conference of the United Church of Christ bore witness to a practice in S.D., in which this tenant of morality is being blatantly ignored. Payday lending practices in our state unquestionably take advantage of the disadvantaged. Because of their ease of access, payday loans are most often utilized by working families and our elderly in times of financial challenge. The cost for quick, easy money is unbearable triple digit interest rates. According to the Pew Charitable Trust, the average interest rate is 574 percent."