It also has steps to download or re-download, install. So, what command or precept do you find in Scripture that demands that every man of God be under some eccclesiastical authority other than his local church? Previously usury had been seen as a lack of charity. I mean — how could you nonviolently kill somebody? Mike Fisher email address is blankatm aol.
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Settling medical debt is often different than negotiation credit card bills that went unpaid.
There will be legal minds applied. Bill was refusing to sign, then the policeman bullied him into it. How is that bullying by the police? All that paper was was an official warning about trespassing which Bill was doing against direct orders from IBLP not to return. Bill has nobody to claim but Bill.
Bill finally got a taste of heavy handed authority that was hall mark of his teaching. It was a somewhat unprecedented event, for all involved. Read what we wrote.
He got real stern, no more mister nice guy. Bill could have been cited for that. It boils my blood when the police are bashed which is what is going on here. Police have a difficult job, and getting people to comply with tasks assigned to them is the most difficult.
Police officers are not beyond bluffing and blustering and even, well, lying to get through to a conclusion that they need. We think that 83 year old Bill got jerked around. This response regarding police is shameful. Been getting too familiar with MSM perspective on law enforcement have you? I may have read you wrongly. As I looked over your post, and the various adjectives regarding the local law enforcement and their intentions, attitudes, etc, I got miffed.
And, finally, popped when I made that comment. You need a delete option. I guess I picked up exactly what Rob picked up on. And, for a delete, just ask. But no need from our side. Is this a joke?
Criminal trespassing is simply a legal communication that you have been formally advised to not return or there will be consequences an arrest. And the fact that it was handled privately though before witnesses was wise and respectful. Before the witness of the local authorities, you are formally advised not to return.
Regardless of his intent, Bill was in the wrong in this particular situation. I am sure it was difficult for both sides. This officer was perfectly under authority in using the camera. Police doing what they do. Accepting this as the right response to an unexpected visit by Bill, a most deliberate and rehearsed legal move to strong arm him off the premises, horrid. Unannounced, but not unexpected. This is why he was told previously not to come on property.
Bill knew that and chose his actions. Too much water under the bridge, too much agony, too much blood, sweat and tears. We have always sought to help heal. Whether you believe it or not, we do NOT want the Board to lose, lose face, lose anything.
THAT has been missing, we believe, on the other side. The things we have been told along the way in response to our efforts and tears. This was a line in the sand. Every one of those men reports to Jesus, and He will make them stand, because He loves them. Maybe, just maybe, He will also have mercy on Bill and on us, and speak to His servants about what they did.
That deeply hurt and crushed a great many folks, folks they claim officially to love and protect and assist. Whose heart and ministry has drawn and and blessed 2.
The one whose ministry collected assets worth hundreds of millions of debt free dollars. THAT man they positioned to be able to throw into jail because he set foot on in venues he was responsible for creating to meet with people who have been very worried about him and are thrilled to see him. THAT was a run-on sentence my grade school teacher warned me about, but, I am sorry, there it is. For years, John the Baptist lived out in the desert and ate locusts and wild honey. He had many people who loved him.
But then his followers left him for Jesus. Did he try to take back his following? No, he said I must decrease and He must increase. Now I am not comparing the board to Jesus.
But I do think John provides a good example for how a Christian should react when his ministry decreases, disappears or is taken for whatever reason. Ministry should be built upon Christ not a man.
If the ministry is built upon a man, even if it has done a lot of good in the past, the desperation of the man and his followers to get him back at the top show where their trust is.
I have no connection to any of this, but hearing about it from non Christian sources I came to see why another Christian leader is in the news. And I must say, Bill and his following are hurting the name of Christ. If you had lived in NT times and you heard Paul was thrown in jail, would you have cared? If so, why, or if not, why not? I mean, when he said he was not coming back, grown men cried.
With Rob I used the example of David. Would that be spiritually healthy or unhealthy? First of all, if Bill is innocent, then what he is going through would fall under suffering for the sake of Christ. But it almost seems as though his supporters think because he is 83, started the organization and impacted so many lives that he deserves what they see as justice.
But is that what God wants? Paul counted it a honor to suffer for the sake of Christ. And Christ did not seek justice when he was unjustly accused, tortured, and killed in our place.
Now maybe some of them are totally false, but one of the good things that has come out of this time is the victims finding the courage to speak out. Now we have to find a way to make sure truth can prevail and a way to keep the innocent from going down with the guilty. I can see where the board is in a very tough spot. Accusations about inappropriate sexual conduct are so very different from say accusations about lying, stealing, and the like.
It is easier to give second chances when no one else will get hurt if it turns out the accusations were true. If the board were to reinstate Bill, the board would be taking chances with the innocence of girls. Too often in the past, the church has been quick to forgive and overlook inappropriate conduct, and that is why sexual predators gravitate to religious groups.
The church has forgotten that while we are to be as gentle as doves we also must be as wise as serpents. We used to have a neighbor who when he moved to the neighborhood went out of his way to befriend us and our three young kids. Then we found out that he had taken pictures of little girls dressed as princesses when they came to his door on Halloween.
In and of itself, that was not a huge deal, but remembering other odd behaviors, alarm bells went off in our heads. He was divorced and living alone. He would disappear for weeks on end to Southeast Asia he said, and he once told us his grown children wanted nothing to do with him. To this day, I do not know if he was a sexual predator or not. But as a mother, I have a greater duty to protect my kids than to be neighborly, and so without proof, we made sure our kids knew he was not a man we wanted them to be around anymore.
We kept up our guard, and we refused to be moved by guilt that we could be snubbing an innocent man. I hope the board remains unmoved by guilt that they could be snubbing an innocent man.
And I hope Bill, his friends and followers stop trying to get his position back. Christ came not to condemn, but to save. Later, He most definitely will come to condemn, and not to save 2 Thess. It is all a matter of when what is appropriate. You just suggested that the innocent not seek justice, but accept suffering instead.
Explain how this applies to Bill but not to victims of sexual abuse. We are not aware of one. If you know of any, please bring that information forward. And where were you with two law firms were desperately seeking for more plaintiffs, to bring things into the light? There have been a great number of lies put forward which deceived the Board and lots of others.
We have, on this blog, sought to address every single issue that we are aware of. We are absolutely convinced that the Board acted on bad or at least incomplete information. We want to see that rectified. As you said, the innocent should not be condemned with the guilty. Then you just volunteered to allow the Lord to put you through what Bill has endured. You will find that you will likely feel very differently. That was a most callous statement. It was mentioned here that BG did not do as most men; did not marry a woman and beget children.
But it raises an important distinction. We can give up only what we actually have, not what we hypothetically or potentially have. A man who marries forsakes all others, which means that he rules out marrying another woman.
But he gives up none of them unless he broke a former engagement to take his present bride. Jesus commands us to count the cost of following him. To a family man like me it seems a severe cost. What a mercy if the cost of our calling is only an opportunity cost. Many of our brethren through the centuries must pay with something they actually have when they offer up their flesh as martyrs.
None of this diminishes the steep opportunity cost BG paid for his vocation, but it venerates our brave brethren who lay down their lives as missionary Jim Elliot and his brethren did some decades ago. They both ruled out and gave up. Makes sexual squabbles and BOD rebuffs seem trivial by comparison. A hundred to one? Reminds me some of Numbers Moses senior staff — OK, his brother Aaron and sister Miriam — found that Moses had acted inappropriately with a woman, a black woman, that he had married, and started finding fault.
No idea if that was because of her race, or something else, but it was when Moses was elderly. Read it for yourself. God came in out of the blue and called them all on the carpet. Basically the message was: And then spanked them hard. No matter how you slice it, it was not any of the Board members or other staffers that the world came trapping in to listen to for those 30 hour seminars, going again and again. There is nobody else on staff, helpers, speakers, book writers, material preparers that can start to compare in that department, though some have had substantial ministries of their own.
Bill is why they came, why they served, why they donated. But it really, truly ought to take the breath of some away to find themselves in a position of having disrespected a man with those credentials.
As they have done. I just read the Motion to Sanction in full. I pray that justice will be done. It is a very serious matter to falsely accuse someone. Walk away from discovery? You better pay the other side. The courts are glutted with too many legitimate suits to be bothered with this type of nonsense. I can only imagine what the judge will think reading this case vs. Cases of real sexual assault.
The rest of us see through the stunt which is what this was. If he contained so sort of letter from former board members, big name supporters who really is left? Based on 4 years of working this and speaking with Bard members and leadership as they have graciously allowed, I have come away with the understanding that the stuff in there is tamer than the lawsuit.
And every man must be allowed to answer to charges brought like that. And please understand that supporters are indeed engaged and speaking up in a great many other venues.
Including some big wig types. Why though would the Board think that the lawsuit would do their dirty work when they were co-defendents with Bill and in fact were the defendants until Bill was added later?
They may well have assumed a partial loss here, even if symbolic. That would have sort of ended any need to engage Bill. That is speculation and possibly wrong. Functional upper management has strongly denied this.
Regardless, conservative estimates had this going on for years more. ATI membership would forget him, move on? Maybe, in this particular instance, the right thing for Bill to do is to apologize — rather than turning it into yet another legal, chaotic mess and blowing it out of proportion. I realize now that this was an error in judgment due to previous communication with the Board.
I would like to apologize for putting the Board and the Big Sandy staff in an awkward position that required them to take the legal position they did. It will not happen again. I would like to ask for the Board to meet with me at a scheduled time and place off of IBLP property so we can work towards reconciliation and open doors of communication. Oh, I could publish any number of letters to the Board from Bill and from others containing precisely such sentiments.
Has he tried THIS time? Since this matter is public, can he post the apology and appeal on his page and yours? Can he keep it simple, own the mistake, make no excuses, and then let go leaving the results to the Lord? Beth, there is no stomach at any level for any apologies from Bill at this time. And you are speaking to someone who has drafted a great many such statements over the years in an effort to assist Bill in being reconciled.
Try to imagine a family member slapping your Dad across the face, drawing blood and, because he screamed back, now nicely asks for an apology. He has though had a big impact on my life. Though I am grateful, I would be wrong to assume that that positive impact, excused him from any wrong or entitled him to being my hero for life. Rather, because I have respected him and admired him, I treat him as a brother and love him by encouraging him to keep seeking truth.
Treasures in Heaven, not in Texas. Well spoken, but as someone not very affected by this. It is NOT their life message that attracted people in. It is not their skillful management or wise decisions that folks point to as why they carry the IBLP label. I am sorry that he is receiving this kind of counsel. OK, you said that. Believe me, nobody here, or at least as an official position, and nobody that I know about, counseled him to do this.
It was not discussed, and Bill generally discusses everything. He may have wanted to protect us, because, yes, if Bill is going to go to jail, he is not going alone. The Board completely overstepped their role and responsibilities in the Body of Christ, even if they had the legal right to do so. They have hurt a lot of people, ignoring Bill for a moment. Kind of like a father has the legal right to discipline a child severely for minor infractions.
Our opinions are our own — Oh, to be in favor with the Lord. May He make His will and desires clear — we will salute and obey. I admire your hanging in there for what you believe is right.
And putting up with so much. We both want the same things. Gee that sound familiar. We are just caretakers. The Lord giveth, and the Lord taketh away. The Lord gave, and the Lord has taken away; blessed be the name of the Lord. As long as you accept this as your fate and standing as well, then there is nothing much else I could or should say.
Of course, if there are times when the injustice of life wells up and grips the heart in anguish despite the fact that we are all dirt bags and caretakers. And the Lord taketh away. Then we would do better to not judge others so much in their time, and just be content to walk our walk and get our grace and mercy when it is our time.
Things are worth fighting, for even as caretakers. In effect he is judging them for what they feel are rightful accusations. Remember, Bill was placed on Administrative leave and then resigned after their stories were publish and the Gibbs investigation. In Denver, a couple months after his resignation, he told us he was glad and did not miss and was free of the administrative burden of his previous position. It was another year and a half before there was ever a lawsuit or any of the so-called collusion you claim.
Our Denver meeting started on a Friday night went all day Saturday. Much was discussed, and a plan of reconciliation that included confession, repentance, and forgiveness and in some cases restitution which included letters, meetings, no amounts of money was discussed and none of us wanted any of their money was laid out and discussed.
Gary started the next morning Sunday with a devotional and pray. I then asked Bill for a recap of how he saw his future ahead, considering what we discussed the previous two days. He than rambled on about his plan for what seemed forever. The five of us looked at each other in utter disbelief that he had not embraced anything from the previous two days.
Finally, one of the participants spoke out and address the issue of his failure to see the bigger dilemma he was in. In the following year it became evident he had no interest in resolving either the distant or current past if it involved a complete repentance.
What little we did get him to do was watered down and fought for tooth and nail. Alfred you see this has always been about him and his pride.
Our discussions centered around unrepentant sin from our experiences with him, which we felt were part of his root problem. We did bring up some of the current issues he was facing. These were just manifestations of unresolved root problems that went back decades. Or desire and goal was to help in the healing of a man, so that would lead to the healing of those he had hurt and damaged both past and current.
We had found the Board and Administration to be completely unresponsive to our communications. We felt if the past issues were dealt with in a Biblical manner, then the current issues could follow next. Taking up an offense is difficult at best, so we stuck to our experiences. Stetzer conclusion that I thought was relevant here. We let our history become mythology. We turned men into heroes, and then we turned our heroes into gods. May none of us turn our leaders into heroes and our heroes into gods.
You make sound like these are punitive sanctions being sought. You can read the formula. You can remain anonymous. AND get a lot of money!!! And do your part to destroy Bill!!!! All that remains true. But he also has started really worrying about the present membership, the millions of alumni, some of which have been devastated, so the willingness of the Board to see him back would be the final confirmation that he is innocent of any action that would be worthy of this kind of rejection.
Also, the sale of property, the shrinking of the ministry is like watching his child die a slow death. He is pretty sure he can turn things around. And, as I said, settling scores from 35 years prior, confessing that you were right and he was wrong.
What else was there? I was not like David, but I am like Saul. What else should he do? That is not a snarky comment. Our favorite verse in 1 John 1: Because he would not publish your statement, you openly reviled and rejected him. I have no confidence that the Lord was in any part of that. At least one and possibly two women who had be involved in the were resent to the Northwood a couple years later.
Third, regarding the Agent of Satan letter, Bill fought that tooth and nail and watered it down, Bill agreed to and latter stated that he sent the retractions to all the original people that were still living, and we could find addresses for.
A couple of weeks after he claimed he had sent them I followed up with three of the addressee and none had received the letters. Eventually after prompting Bill again he finally sent at least one of the letters. We were never able to verify the second one which is another story and the third the pastor had a family emergency and left the pulpit.
All toll about letters were supposed to be sent, based on our sampling I doubt he sent any other than the one we verified. You have struck down Uriah the Hittite with the sword and have taken his wife to be your wife and have killed him with the sword of the Ammonites. These are not just sins that should only be confessed to God, as some call for, they are very public sins because it affected the King of Israel, his line of session and possible judgement against the land.
Again, to quote R. Public sins should be dealt with publicly, as Paul shows us in 1 Corinthians 5. That is not what we read in the Bible, the Bible is about sin, repentance and forgiveness, which leads to reconciliation and requires equal treatment for all Ex,. Church discipline definitely fits into this category regarding an unrepentant person. This story is repeated from Genesis to Revelations, over and over again.
His legal fees, and those to defend the other Board members, were paid out of the gifts of godly people, given for the furtherance of the Gospel, and out of the sacrificially procured fees of relatively poor families with lots of kids in ATI. So, when you look at it like that, it stinks. The plaintiffs were looking at easy street off the same funds. So, maybe that is OK to you and to those that hate Bill and us, but we feel quite strongly that this is the least that could be asked to rectify this horrific wrong, especially as not a single one has come forward to apologize.
And you do know that Bill strongly disputes that. I recall so distinctly as we were going over this again, and he looking me in the eye. That he could not violate his own integrity to sign such a statement, because. It was not true. He knew of a problem with his brother that involved a secretary but understood it to be confined to some relatively banal things in the overall scheme. He had unclear and recanted testimony from a woman on the one hand one of the women, I thought the first, completely denied everything , he had the testimony of staff members that he believed to be motivated by jealousy and that, according to him, did not actually observe but a tiny piece of what we now know was the actual iceberg, and his brother, that he never knew to be deceitful, assuring him of a much simpler event.
It was a relatively small problem to solve, as these things go, and he solved it. Not even Bill could have proceeded as he did if he believed what you claim he believed. Of that I am absolutely sure. After 45 years of pounding on this point, given that you are not dealing with someone who is simply too proud to admit a major sin, but actually, truly was deceived, what do you hope to accomplish by forcing him to confess what he, to his dying day, will not believe to be true?
At some point that becomes unrighteous. God is so much better at vengeance than we are, with the added advantage of knowing the hearts of all involved.
We fail of so many things, starting with the demand of love. Paul called himself the primary sinner because, unlike anything that Bill has ever done, HE persecuted, killed Christians and hated Jesus. Every time you condemn Bill you are asking Jesus to examine your own record and life.
And we were amazed that he sent anything. God is judge of all. It is a mortal crime to add to the words of Scripture which we all like to do. What words would you add to this Scripture? And that, of course, is why we have endless problems in the Body of Christ.
This is what I read:. Shouldest not thou also have had compassion on thy fellowservant, even as I had pity on thee? And his lord was wroth, and delivered him to the tormentors, till he should pay all that was due unto him. So likewise shall my heavenly Father do also unto you, if ye from your hearts forgive not every one his brother their trespasses.
In fact, there is a dire warning to any that would refuse to do that. We never read of why the one servant threw his fellow servant into jail over the debt he owed. It seemed to not matter much to their common Lord. Tell me what messy steps YOU would have servant 1 demand of servant 2 before releasing him of the debt.
I was stunned to see that you seem to cite this in your defense. Clarify what you mean. There is nothing vengeful with telling the truth. Until Bill has a heart change he will continue to spin the Northwoods story and we will continue to disagree until that time.
The same is true with Tony. He was given a job and when the truth got too close to Bill, he was fired. Bill has been trying to discredit him ever since. If not, they got their info from Bill, enough said.
Paul had a miraculous heart change, a change in thinking and behavior, something we have not seen in Bill. What he did in Texas is just more proof. As many as seven times? In the first part of story we read that a large debt was owed that could not be paid, the debtor and his families freedom were demanded in payment of the debt. The debt we owe God. But the debtor humbled himself fell on his knees acknowledged his debt repented and promised to repay the debt. This is the example of our relationship with God and our salvation.
As sinners our debt was prepaid but in order to obtain that prepayment we are required to humble ourselves acknowledging we are sinners Rom 3: The second part of the story is a smaller debt that could be characterize as a sin against a brother.
Like the first debtor, the second debtor humbled himself and admitted he was wrong, he acknowledged his sin and repented. Yet cry for mercy went unheeded and he was punished. The third part of the story brings about perfect judgement and demands payment from the first debtor to right his wrong against another.
In the end vs. To dissect this, we can see the various parts of the process;. It involves a sin against a brother debt, vs. It involves recognition of that sin a. As confronted by others, king, vs. As remember by the person, NA in this case but addressed in Matt.
Repentance of that sin debtor, vs. Forgiveness granted king, vs. Restitution, debt forgiven king, vs. Reconciliation initially king, vs.
To further explore the teaching by Iooking closer at vs. Since we know our salvation is secure John 6: That forgiveness needs to be sincere, heartfelt and honest. That is so bizarre. It was a sacrifice. Let Jesus act on the truth He knows. It is time for you to leave Bill alone on this. Or not, I have no authority over you. You had a golden opportunity to have a major role in landing this publicly and fairly, to the gratefulness of all involved — instead it was squandered on another round of trying to force him to comply with what you see as unfinished business from 40 years ago.
You know that we have long trails of emails with Tony spanning over 10 years. I also spoke at length to at least two era staffers, one in a very senior position. I also have the RG documents, which include, say, the bewilderment of Woods as to his absence in the suit. You failed to mention that the suffering Paul endured was toward the end of his life, having nothing to do with.
All of Asia turning against him, no one person standing with him at his first defense. I see a lot of commonality,. Boy, that about sums it up. The world of forgiveness and grace you live in says. Until Bill pays his debt, you will not release him from the Larne Memorial Jail of demands and expectations. Nor is their sainthood for anyone either. Bill owes me nothing but truth, nor do I owe him anything but truth.
There is no vengeance just truth. We will all have to stand before a Holy Perfect God when our times come and for me I am at peace. Actually repentance and forgiveness are messy if you took the time to search the scriptures, both OT and NT, you might be surprised how messy it really is, I know I was! Start with Leviticus and end with the crucifixion. They are choices we make which can be sacrificial but still choices, just like your ATI choice.
You accuse me of judging, yet what do you call your comments against the women, do you know their hearts? Aristotle's argument is that interest is unnatural, since money, as a sterile element, cannot naturally reproduce itself. Thus, usury conflicts with natural law just as it offends Christian revelation: Outlawing usury did not prevent investment, but stipulated that in order for the investor to share in the profit he must share the risk.
In short he must be a joint-venturer. Simply to invest the money and expect it to be returned regardless of the success of the venture was to make money simply by having money and not by taking any risk or by doing any work or by any effort or sacrifice at all, which is usury. St Thomas quotes Aristotle as saying that "to live by usury is exceedingly unnatural".
Islam likewise condemns usury but allowed commerce Al-Baqarah 2: Judaism condemns usury towards Jews, but allows it towards non-Jews. Thus a banker or credit-lender could charge for such actual work or effort as he did carry out e. The Catholic Church, in a decree of the Fifth Council of the Lateran , expressly allowed such charges in respect of credit-unions run for the benefit of the poor known as " montes pietatis ".
In the 13th century Cardinal Hostiensis enumerated thirteen situations in which charging interest was not immoral. Many scholastic thinkers who argued for a ban on interest charges also argued for the legitimacy of lucrum cessans profits e. Pierre Jean Olivi and St. However, Hostiensis' exceptions, including for lucrum cessans , were never accepted as official by the Roman Catholic Church. The Roman Catholic Church has always condemned usury, but in modern times, with the rise of capitalism and the disestablishment of the Catholic Church in majority Catholic countries, this prohibition on usury has not been enforced.
The nature of the sin called usury has its proper place and origin in a loan contract… [which] demands, by its very nature, that one return to another only as much as he has received. The sin rests on the fact that sometimes the creditor desires more than he has given…, but any gain which exceeds the amount he gave is illicit and usurious.
One cannot condone the sin of usury by arguing that the gain is not great or excessive, but rather moderate or small; neither can it be condoned by arguing that the borrower is rich; nor even by arguing that the money borrowed is not left idle, but is spent usefully… . In The Divine Comedy Dante places the usurers in the inner ring of the seventh circle of hell. Interest on loans, and the contrasting views on the morality of that practice held by Jews and Christians, is central to the plot of Shakespeare's play " The Merchant of Venice ".
Antonio is the merchant of the title, a Christian, who is forced by circumstance to borrow money from Shylock , a Jew. Shylock customarily charges interest on loans, seeing it as good business, while Antonio does not, viewing it as morally wrong.
When Antonio defaults on his loan, Shylock famously demands the agreed upon penalty-a measured quantity of muscle from Antonio's chest. This is the source of the phrase "a pound of flesh" often used to describe the dear price of a loan or business transaction.
Shakespeare's play is a vivid portrait of the competing views of loans and use of interest, as well as the cultural strife between Jews and Christians that overlaps it. By the 18th century, usury was more often treated as a metaphor than a crime in itself, so Jeremy Bentham 's Defense of Usury was not as shocking as it would have appeared two centuries earlier. In the early 20th century Ezra Pound 's anti-usury poetry was not primarily based on the moral injustice of interest payments but on the fact that excess capital was no longer devoted to artistic patronage , as it could now be used for capitalist business investment.
Usury laws are state laws that specify the maximum legal interest rate at which loans can be made. If a lender charges above the lawful interest rate, a court will not allow the lender to sue to recover the unlawfully high interest, and some states will apply all payments made on the debt to the principal balance.
The making of usurious loans is often called loan sharking. That term is sometimes also applied to the practice of making consumer loans without a license in jurisdictions that requires lenders to be licensed. On a federal level, Congress has never attempted to federally regulate interest rates on purely private transactions, but on the basis of past U.
Supreme Court decisions, arguably the U. Congress might have the power to do so under the interstate commerce clause of Article I of the Constitution. Congress imposed a federal criminal penalty for unlawful interest rates through the Racketeer Influenced and Corrupt Organizations Act RICO Statute , and its definition of "unlawful debt", which makes it a potential federal felony to lend money at an interest rate more than twice the local state usury rate and then try to collect that debt.
It is a federal offense to use violence or threats to collect usurious interest or any other sort. Separate federal rules apply to most banks. Supreme Court held unanimously in the case, Marquette Nat. Bank of Minneapolis v. First of Omaha Service Corp. Among the Act's provisions, it exempted federally chartered savings banks, installment plan sellers and chartered loan companies from state usury limits. Combined with the Marquette decision that applied to National Banks, this effectively overrode all state and local usury laws.
In the Smiley v. Citibank case, the Supreme Court further limited states' power to regulate credit card fees and extended the reach of the Marquette decision. The court held that the word "interest" used in the banking law included fees and, therefore, states could not regulate fees. Some members of Congress have tried to create a federal usury statute that would limit the maximum allowable interest rate, but the measures have not progressed. The act provides for a Consumer Financial Protection Bureau to regulate some credit practices but has no interest rate limit.
A person who violates this provision is liable to the obligor as an additional penalty for all principal or principal balance, as well as interest or time price differential.
A person who is liable is also liable for reasonable attorney's fees incurred by the obligor. Japan has various laws restricting interest rates. In a partnership or joint venture where money is lent, the creditor only provides the capital yet is guaranteed a fixed amount of profit. The debtor, however, puts in time and effort, but is made to bear the risk of loss. Muslim scholars argue that such practice is unjust. A non-recourse loan is secured by the value of property usually real estate owned by the debtor.
However, unlike other loans, which oblige the debtor to repay the amount borrowed, a non-recourse loan is fully satisfied merely by the transfer of the property to the creditor, even if the property has declined in value and is worth less than the amount borrowed. When such a loan is created, the creditor bears the risk that the property will decline sharply in value in which case the creditor is repaid with property worth less than the amount borrowed , and the debtor does not bear the risk of decrease in property value because the debtor is guaranteed the right to use the property, regardless of value, to satisfy the debt.
The JAK members bank is a usury-free saving and loaning system. Growth of the Internet internationally has enabled both business micro-lending through sites such as Kickstarter as well as through global micro-lending charities where lenders make small sums of money available on zero-interest terms.
Persons lending money to on-line micro-lending charity Kiva for example do not get paid any interest,  although the end users to whom the loans are made may be charged interest by Kiva's partners in the country where the loan is used. From Wikipedia, the free encyclopedia. For the electronic dance music group, see U. This article's tone or style may not reflect the encyclopedic tone used on Wikipedia.
See Wikipedia's guide to writing better articles for suggestions. March Learn how and when to remove this template message. This section is too long to read comfortably, and needs subsections. Please format the article according to the guidelines laid out in the Manual of Style. History of banking and History of pawnbroking. Loans and interest in Judaism. Riba and Islamic banking. Retrieved 26 October Indigenous Banking In India. The Islamic Moral Economy: Cavalry Investments in the parent company of the group.
Arizona Department of Financial Institutions action: The purchase agreement contained various disclaimers, however key disclaimers in this document appear to be redacted.
West Virginia A-G action; Cavalry was sued for collecting debts in the state without a license. The purchase and sale agreement disclaimed representations as to the accuracy of any information provided, including balances, and as to compliance of the loans sold with federal or state law.
Cavalry purchased a portfolio of debt from Midfirst Bank. The purchase agreement disclaimed representations as to the accuracy of most information and documentation. JPMorgan was alleged to have hired the children of Chinese officials in ancilliary roles in order to get perferential treatment, as reporting by the New York Times. March, — U. Trustee Program Settlemen t: Chase allegedly filed inaccurate notices and statements regarding mortgages in Bankruptcy cases.
December, — Mississippi Attorney General action: November, — National Settlemen t: The OCC imposed additional compliance measures on Chase. Chase agreed to indemnify several debt buyers after it illegally added fees to 10, charged-off accounts before selling them.
Chase employee Linda Almonte, in a whistleblower suit against Chase alleged that Chase had committed fraud, because the pool of judgments sold included cases involving fraud and inaccurate records.
Chase moved to dismiss on the grounds that its disclaimer of warranties meant the sale was not fraudulent. Citi subsidiary CitiMortgage gave consumers seeking relief from foreclosure the run-around, demanding that they provide dozens of forms and documents that were not needed by Citi and were irrelevant.
It must also stop any foreclosures that are pending where they obstructed foreclosure relief. Citi subsidiary CitiFinancial Servicing misled mortgage customers about the consequences of deferring payments, failed to cancel credit insurance when required and prematurely canceled credit insurance, made incorrect credit reports and hid foreclosure relief options from customers.
Citibank sold accounts to debt buyers with inaccurate information and failed to forward payments made after sale to debt buyers. In a separate matter, lawyers for Citibank and some of its subsidiaries altered affidavits sworn by Citibank employees and filed them in New Jersey debt collection actions.
Citibank vacated the judgments obtained in those cases and ceased collection. Citibank paid no additional fine. Hawaii settled a suit against Citi for improper marketting and sale of credit card add-on products. Mississippi sued Citi for deceptive marketing of add-on products and for charging consumers for products they did not agree to buy.
Citi sought to remove the case to U. The Citi later settled the case. OCC found that Citibank had filed false affidavits in lawsuits and foreclosed without proper documentation. Clarity obtained at least , consumer reports without a permissible purpose in order to market its services to creditors. Clarity also failed to properly investigate consumer dispute about items on credit reports, including claims of fraud and identity theft. Discover Bank is a large national bank.
It is associated with Discover Products, Inc. Discover Bank failed to send certain private student loan borrowers IRS form , showing tax deductible interest on student loans, unless the students specifically requested the form. Instead, students were directed to a website that showed they had no deductible interest if they had not requested from Discover also told student that payment was due even when loans were in deferment and made debt collection calls at prohibited times.
DriveTime Automotive Group, Inc. It also made reports to the Credit Reporting Agencies despite having reason to believe the reports were inaccurate. Equifax sold credit scores to consumers and falsely represented that those scores were the same scores normally used by lenders in making credit decisions. Equifax also illegally advertised its credit scoring products on pages accessed through AnnualCreditReport. Equifax gave consumer information about mortgage delinquencies to businesses that had no permissible purpose to access the information.
The information was sued to market financial services to consumers in financial distress. Experian sold credit scores to consumers and falsely represented that those scores were the same scores normally used by lenders in making credit decisions. Experian also illegally advertised its credit scoring products on pages accessed through AnnualCreditReport.
ACH splitting — trying to withdraw funds in multiple smaller amounts after an initial electronic transaction failed — resulted in consumers paying addition fees for failed ACH transactions. Firm employees altered the dates and amounts of declarations executed by Citibank and used them in debt collection cases in New Jersey. A multi-state debt collection law firm, in Georgia, Florida and South Carolina.