Banking and Our Values

Banking and Our Values

Resources for evaluating your financial institutions

Just Principles for Financial Transactions developed by Center for Responsible Lending through their conversations with faith groups

  • Promote honesty, clarity, transparency and evenhandedness. All sides should have the same opportunity to understand and negotiate a contract. Kick backs and fees that distort lender and broker incentives to deal fairly with customers should be eliminated. 
  • Prohibit unconscionable rates of interest. Usury caps to address abusive lending should be reinstated.  
  • Include traditional underwriting standards. Lenders have a responsibility to assess whether borrowers can repay. 
  • Support equity in credit across communities. Practices that particularly burden communities of color or low-income communities must be ended.   
  • Limit fee-based penalties and business models that depend on consumer-over spending and recurrent indebtedness. Penalties against repaying debts early should be eliminated.   
  • Require that the interest and fees charged on a loan are reasonable and proportional to the services rendered.   
  • Call upon that banks and credit unions provide a range of responsible banking and credit products in their communities.
  • Establish financial institutions which adhere to these principles in poor neighborhoods and other underserved communities.

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Contact Info

Edith Rasell, Ph.D.
Minister for Economic Justice
700 Prospect Ave.
Cleveland, OH 44115