The word "usury" nowadays refers to charging excessive interest on loans, however, it turns out that its biblical usage refers to charging any interest on loans. (Ezekiel 18:8 is one example of a condemnation of the practice.) Throughout most of church history, the church has been against it.
Of course, for most of church history, we have not been in a capitalist society. I am unsure whether that excuses people today from charging interest from a banking perspective. I imagine that opening bank accounts that accrue interest would probably be okay as this does not seem to be the spirit of the biblical prohibitions, which are to prevent predatory treatment of the poor. Certainly I think those payday loan businesses that charge you an arm and a leg for money upfront would seem to be against the spirit of what the Bible teaches.
Of course, for most of church history, we have not been in a capitalist society. I am unsure whether that excuses people today from charging interest from a banking perspective. I imagine that opening bank accounts that accrue interest would probably be okay as this does not seem to be the spirit of the biblical prohibitions, which are to prevent predatory treatment of the poor. Certainly I think those payday loan businesses that charge you an arm and a leg for money upfront would seem to be against the spirit of what the Bible teaches.
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