News Archives » Economic Justice
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 »
Reflections from a Recent Trip to Asia February 14th, 2012
Seamus Finn, OMI reflects on his experiences and observations during a recent trip to Asia and the implications for the Oblate work with corporations. He looks at questions raised by the realities of life experienced by ordinary people, from Bangladeshi tea plantation and garment workers, to Burmese refugees in Thailand, and Cambodians dealing with the long-term impacts of land mines.
Read Fr. Finn’s latest blog on Huffington Post…
CNBC Follows the Trail of International Corruption and Money Laundering to a Shocking Tax Haven… the United States February 13th, 2012
The Oblates have been working with other members of the Interfaith Center on Corporate Responsibility (ICCR) to counter tax havens through dialogs with international financial institutions. OMI is also a member of FACT coalition (Financial Accountability and Corporate Transparency Campaign) and Tax Justice Network USA. A new one-hour documentary by CNBC Investigations, Inc., reported by CNBC Senior Correspondent Scott Cohn, focuses on the issue.White tigers, private jets, multi-million dollar mansions in the most luxurious spots on earth – all paid for with money that critics say was stolen by the ruling families of oil-rich nations. There are estimates that corruption worldwide costs as much as $1.5 trillion a year. In many countries, the ruling families simply take what they want, living lives of luxury while their people face poverty and oppression.
On Thursday, February 23rd at 9PM ET/PT, CNBC will present “Filthy Rich,” a one-hour original documentary reported by award-winning Senior Correspondent Scott Cohn and the CNBC Investigations Inc. team. They follow the money around the globe to Dubai, London, Paris and the United States, which is fast becoming a place for the Filthy Rich to hide their wealth.
Click here to read more »
Threat to Water from Mining in Peru Mobilizes Masses February 5th, 2012
Thousands of Peruvians from the Amazon to Lima have mobilized against a serious threat to the water in the Cajamarca region of Peru. Residents there, mostly indigenous peoples, are deeply concerned about the threat to their water from a proposed mining development by the American company, Newmont Mining. Oblates in the US have engaged Newmont about the impact of their operations on communities where they have mining operations. The Yanacocha mine has been a priority in those conversations though the recent turmoil in the Cajamarca region is related to the proposed development of Minas Congas and extension of the Yanacocha project. The Oblates in Peru are supporting the March for Water that has been organized by civil society in the impacted areas.
The movement claims “the right to be consulted, to be respected and heard in decisions about its development model, for socially-just participation in economic growth, the prohibition of mining in the headwaters of rivers, and a stop to mining with cyanide and mercury that is causing so much damage to land and water.” The marchers are proclaiming their human right to water, and drawing support from churches and civil society alike in a several day march from Cajamarca to Lima. The Great National Water mobilization began on February 1st and will conclude with a convocation in Lima on February 9-10.
Read a full description of the mobilization (in English translation):
“SMALL STREAMS MAKE THE GREAT RIVER OF LIFE”: THE GREAT NATIONAL WATER MOBILIZATION”
Materials in Spanish are also available under News in the Spanish section of this website
Recrearte 2012: A Significant Experience in the Peruvian Jungle February 3rd, 2012
Oblates in Peru are working with children of the indigenous kichwa in the Amazon, whose communities are threatened by intensifying economic activity: oil exploration, increased illegal logging, pollution related to informal gold mining, commercial fishing operations, and the social ills that follow, including an increase in drug dealing. There is an increasing lack of teachers at all levels. Read the encouraging story of their recent RECREARTE Project.
Click here to download the PDF
