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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

The companies operate in a legal gray area that allows them to function much like a payday lender but without the consumer-protection rules that govern those businesses.

From Los Angeles Times ● May 25, 2023

“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, which was the UK's biggest payday lender, had faced criticism for its high-cost, short-term loans, seen as targeting the vulnerable.

From BBC ● Aug. 30, 2018

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