CLEVELAND, Kansas — The term “loan shark” you will bring to mind a scene when you look at the a motion picture where a gangster takes a beneficial crowbar into kneecap regarding a straight down-on-his-chance casino player just who cannot generate an effective into installment regarding financing.
The definition of “pay check bank” you will bring to mind an image of a valid company, that includes a bright green indication, that provides finance on extremely high rates of interest targeted at individuals having lowest profits otherwise who if not not be eligible for traditional money.
Historically, a beneficial “loan-shark” describes a loan provider that charge extremely high cost, Anne Fleming, a part rules professor within Georgetown University, told you during the a message.