Usury

Matthew 25:27 – “Then you should have invested my money with the bankers, and on my return, I would have received what is mine with interest.”

I find it interesting that the master doesn’t seem to worry about or feel bad about the fact that his slaves know that he cheats and steals. Or even about the fact that one of them had the nerve to say this to his face! Here, he is only critiquing the servant’s response to that knowledge. He is angry, because the servant’s actions lost him the interest on “what is mine.” 

This is one of the sections of this parable that rings true today, because Republican leaders are making over our economy to resemble that of the Romans. The Roman economy was organized around elites sticking it to the less fortunate. Our economy is also organized for the benefit of the elites and the rich. In other words, both the Roman economy and our own benefit the few to the detriment of the many. 

This is where the topic of usury becomes relevant. Usury as defined in the Old Testament is getting any interest on a loan to a fellow Jewish person. “If you lend money to my people, to the poor among you, you shall not deal with them as a creditor; you shall not exact interest from them. If you take your neighbor’s cloak in pawn, you shall restore it before the sun goes down; for it may be your neighbor’s only clothing to use as cover; in what else shall that person sleep? And if your neighbor cries out to me, I will listen, for I am compassionate. (Exod. 22:25-27, NRSV).” If someone needs money, we should not take advantage of their need by forcing them to sleep in the cold by keeping their cloak overnight or by charging interest.

We have redefined usury to mean charging exorbitant interest. Like beauty, exorbitant is in the eye of the beholder, or the privilege of the wealthy. We still stick it to the most vulnerable by charging them more interest on car loans and mortgages than we do those who are well off financially. We make it more difficult for the poorest among us to get a bank account – a minimum balance at all times is required or a monthly maintenance fee is charged. Forget cashing a check at a bank if you have no bank account – banks no longer cash checks this way. That’s what check cashing places are for, and they charge ridiculous rates for the ‘privilege.’ Yes, interest is another weapon the rich use against those less fortunate in our society. The use of this weapon ricochets into all aspects of a person’s life: access to fresh food, healthcare, shelter, safety, and security. Make no mistake, these policies kill people. Murder by a thousand little cuts.

What about us? What is our current relationship to interest? I am privileged to not have a mortgage and to have access to a credit union. I get a little interest on it. The money I deposit goes back into the community as loans for housing. It does not go to the bigger banks or even out of the country. Is that good enough? Am I making someone’s life harder by the interest I earn? It’s hard to say, but there’s a good bet I am. What to do? That question requires a thoughtful answer.

Today might be a good day to think about interest and how it functions in our lives. Does it help us, or is it drowning us in debt? Are there ways to reduce the role it plays, to lessen the privilege of low interest rates on our loans or mortgages? Is there a way to use the interest we earn for good?

B