Article by Marc Aupiais
Mexico: is expected to take a stance against high interest rates on credit cards: used by Mexican banks:
Reporting on the possibility that Mexico will create a forced cut-off point of 33% interest on credit card purchases: the AP: has noted that the Catholic church, is among those apposing high rates in Mexico: gained by banks over credit cards: the quotation came from December, several month ago:
AP quotes the: Archdiocese of México, which is currently under the care of: Cardianl: Norberto Rivera Carrera:
(AP (Secular; American; Independent) 26 / 03 / 2009)
The Catholic understanding of the biblical ban on "Usury": is thought in modern times: to refer not to banking as it was once seen to refer to: in a time where all banking could have been seen as Usurious, but rather to unfairly extravagant interest rates.
The measures have already passed through two senate committees: and voting there suggests that they are likely to pass into Mexican law, when the full senate votes on them. The "Credit Crunch"/"Financial Crisis"/ Recent "Recession", has particularly hit many developing countries.
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