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Usury is Alive and Well March 11th, 2012
“You would think by now that banks and other financial institutions would have been chastened some by the scrutiny and criticism that they received during the near meltdown of the financial system in September 2008 and its aftermath. Judging by the aggressive path that some have adopted in the payday lending arena, I am sorry to report that some banks have quickly beaten a path back to their old behaviors. Constrained from many of the usual profit making services that were part of their pre-crisis business models, many have been looking at additional fees for such things as ATM withdrawals or late payments and other increased charges to make up the lost income.”
Read the latest Huffington post blog entry from Fr. Seamus Finn, OMI
Oblates and Khasi People Host US Embassy Staff in Northeast Bangladesh March 11th, 2012
Forrest Graham, Political Officer with the US Embassy in Bangladesh visited the Khasi people in the northeast in late February at the invitation of the Oblates. Fr. Joseph Gomes, OMI, Fr. Valentine Talang, OMI, and local Khasis hosted Mr. Graham in visiting the villages near Sylhet in northeast Bangladesh to learn about the culture, language and lifestyle of the indigenous peoples living there, and the challenges facing them.
Khasi Villagers with Forrest Graham and Fr. Joseph Gomes, OMI
Flora Talang, Fr. Gomes, OMI, Forrest Graham and a Khasi friend in Muriocherra
Gathering with Khasis in Muriocherra
Forrest Graham with Khasi Elders in Muriocherra
Forrest Graham in Muroicherra Punjee
Faith-Based Shareholders Call for News Corp Board Shakeup March 1st, 2012
The Interfaith Center for Corporate Responsibility and Christian Brothers Investment Services are calling once again for a shakeup of the Board of Directors of News Corp and the resignation of James Murdoch, son of newspaper magnate Rupert Murdoch. The faith-based groups were part of an investor revolt , calling for reform of the News Corporation board at last year’s annual general meeting. Thirty five per cent of shareholders voted against James Murdoch’s re-election then, and the ICCR members are calling again for major changes on the Board.
Fr. Seamus Finn, OMI was quoted in several press stories about the need for James Murdoch’s resignation and a Board shakeup after it was announced that Murdoch was giving up his position as executive chairman of News International – the British publishing division hit by the phone-hacking scandal – and returning to New York. ” It seems to me that … either [the] Leveson enquiry or the internal enquiry from the company [may have] … turned over some new thing that has made James decide he is going to step down.” “This raises further concerns about the way this company is governed. … It is clear to us that there are too many conflicts of interest in the way this company is run.”
The shareholder campaign at NewsCorp is in keeping with investor campaigns for better governance, one element of which is separation of the Board Chair and CEO. Best practices, according to Julie Tanner of Christian Brothers, which is drafting a shareholder resolution against News Corp, is that 2/3 of Board Directors should be independent (not related by family or personal ties). Rupert Murdoch currently owns 40% of the company and is Board Chair and CEO.
Learn more…
Article in the Guardian Newspaper…
Interview on ABC News show “The World Today”…
Act to Stop Usurious Payday Lending! February 23rd, 2012
US Regulators receive letter from over 250 organizations and individuals on usurious loans.
Over 250 organizations and individual advocates – including the Oblates and other faith-based groups – have joined the call to stop banks from extending predatory payday loans. These loans carry triple-digit annual interest rates of as much as 400 percent.
Consumers can join the call for regulators to stop bank payday lending by signing a petition at: http://rspnsb.li/vZb3iH
Learn about the problem of predatory payday lending in this video from Center for Responsible Lending.
Click here to read more »
2012 Lenten Resource on Immigration February 17th, 2012
“For I was a stranger and you welcomed me.” (Matthew 25:35)
Lent 2012 begins on February 22. The Oblate JPIC initiative invites you to join us in prayer, reflection and fasting for refugees and immigrants around the world. This is an opportunity to deeper our faith understanding for the stranger and for parishes to pray for comprehensive immigration reform.
How you will take action in solidarity with immigrants during Lent? You can help Congress understand that people of faith care about the need for immigration reform. Join with others to sign pledge cards at Justice for Immigrants addressed to your Senators and Member of Congress asking them to support just and humane immigration policies.
The Oblate JPIC office also has new one-page resource materials on Immigration Reform and Human Trafficking. Oblates can contact our office by email or phone for copies of these reflection materials to be mailed to your community. Our contact information can be found in the About Us section of this website. They are also available for widespread use through the Resources section of this website.
