How Some Banks Charge More than Payday Lenders for Small Loans

Rent-a-bank schemes allow bankers to act like payday predators

Photo by Dmitry Demidko on Unsplash

Most people associate payday loans — whether through storefronts or online operations — with shady business dealings and legalized loan sharking. Often, these fast-credit, small-dollar lenders are the last resort for low-income people facing a financial…