Deuteronomy 23.19, 20

“‘You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest. You may charge a foreigner interest, but you may not charge your brother interest, that the LORD your God may bless you in all that you undertake in the land that you are entering to take possession of it.’”

Exodus 22.25; Leviticus 25.1-7, 8-22, 35-38; Deuteronomy 15.1-6, 9, 10

Commentators differ as to whether what is meant by “interest” here is any interest at all or the exorbitant rates of usury. I tend to incline to the former understanding. God’s people were instructed to lend to one another without any expectation of return (Lk. 6.30-36). Thus their lending would reflect the grace of the Lord, Who constantly gives to His people whatever they need.

It was, however, lawful to exact interest from foreigners, whether individuals or nations. The inability to charge interest routinely would be a discouragement to the creation of a debtor society. In our day, when credit cards are ubiquitous and just about anyone can get a loan, we have accumulated such a mass of debt, both personal and national, that it seems unlikely we shall ever be able to pay it off. The borrower is the servant of the lender in such a situation, and justice cannot easily be served.

It’s not difficult to see the wisdom of this statute, and it’s also not difficult to see the folly of refusing to abide by its teaching.