Q1: There is no canon in the current Code of Canon Law relating to usury. The 1917 Code contained an explicit provision, canon 1543. What is the Church’s latest position on usury? –David
Q2: I am a lay Catholic in need of answers to the question of usury in the Church. The Catholic Encyclopedia is ambiguous, to say the least: the Third Lateran Council (1179) and the Second Council of Lyons (1274) condemn usurers, but then the Fifth Lateran Council (1517) said usurers “ought not to be condemned in any way.” What does the Church define usury as? When (if at all) is it permitted? –Thomas
A: David is absolutely correct that the current Code of Canon Law is silent on the subject of usury. Over the course of previous centuries, however, there have been countless church regulations and declarations on the subject—which, as Thomas notes, often contradicted each other. Let’s take a look at how the term “usury” is defined, and at past church pronouncements about it. Then we might be able to draw some conclusions as to why the code says nothing about usury today—and what current Catholic teaching on the subject really is. Continue reading