Another front has opened in the war on religious liberty and it has nothing to do with the Obama administration. In Missouri, religious leaders are being told that their continued opposition to predatory lending practices will jeopardize their tax-exempt status.
Payday lenders are a blight on the nation, but the stain seems particularly foul in the Show Me State. An editorial at St. Louis Today noted that Missouri is “completely out of whack with national norms” on the issue, and that lenders in the state can charge, legally, as much as 1,980 percent on small, short-term loans of up to $500. You read that correctly: 1,980 percent. This at a time when interest rates are at historic lows.