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payday lender

British  

noun

  1. a person or group that offers short-term loans, in advance of payday, at high rates of interest

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

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For instance, borrowing $400 over three months from a payday lender typically costs $360 in fees, while banks are charging $24 or less for a loan of the same amount, Pew said.

From New York Times ● Jun. 16, 2023

One of the companies that had to pay only 100 pennies was a Tennessee payday lender called Main Street Personal Finance that allegedly duped consumers with “deceptive finance charge disclosures.”

From Los Angeles Times ● Jan. 11, 2021

“To what extent is the White House and the chief of staff actively involved in the payday lender issues? What role has the White House taken?”

From Washington Post ● Nov. 20, 2019

Seventy-two percent said they received better treatment from a payday lender than from a bank or credit card company, and 75 percent said they were likely to recommend payday loans to friends and family.

From Washington Times ● Feb. 26, 2019

Wonga never considered itself to be a payday lender, preferring instead to describe itself as a maverick technology company that happened to sell loans.

From BBC ● Aug. 29, 2018

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