This guest blog comes courtesy of Susan Wilcox, C.S.J., the director of campus ministry at St. Joseph’s College in Brooklyn, N.Y., and a member of Occupy Catholics.
For much of its existence, the Catholic Church has taught a profound suspicion of usury—that is, predatory lending which turns the borrower into a victim. As recently as 1745, Pope Benedict XIV warned in an encyclical that usury “assumes various forms and appearances in order that the faithful, restored to liberty and grace by the blood of Christ, may again be driven headlong into ruin.” Even the present Pope Benedict has called for “a renewed commitment on everyone’s part effectively to combat the devastating phenomenon of usury and extortion, which constitutes a humiliating form of slavery.” At a time of ongoing financial crisis, Catholics must remember that lending money is a matter of moral concern; we are forbidden from engaging in debt arrangements that foster an unjust debtor-lender relationship….
Strike Debt is a campaign, grown out of Occupy Wall Street, that seeks to build a movement of debtors by highlighting predatory lending practices while promoting debt resistance and mutual aid. The task these activists have set for themselves is a profoundly theological one; they are attempting to transform how people think about what they really owe in life and to whom….
FULL ARTICLE HERE