Alexandria Ocasio-Cortez isn’t known for quoting the Bible on Twitter. She’s making an exception when it comes to her push against payday loans.
The lefty firebrand lashed out against “usury” — the Holy Book’s term for rip-off interest rates — to back up her measure to ban unfair lending practices and cap interest rates.
She called out religious conservatives for being gung-ho on the Bible when it comes to their preferred positions on abortion and gay rights but ignoring its edicts against treating people fairly financially.
The bill that AOC is co-sponsoring with Sen. Bernie Sanders would cap interest rates at annual rate of 15% and tighten up other shady lending practices.
The proposal may get the attention of the millions of Americans who rely on so-called pay day loans to get by and pay their urgent bills.
Critics say capping rates will just put those lenders out of business and cut off an important source of financing for under-served consumers and communities.
