During the Great Depression, salary buying was renamed 'payday lending', with interest rates becoming standardized at approximately 240 percent per year.

Authors

• Person: Yuqing Li Organization: 7 Pillars Institute
  Financial Ethics 101: Predatory Lending - Seven Pillars Institute

Sources

• Financial Ethics 101: Predatory Lending - Seven Pillars Institute 7pillarsinstitute-org.sevenpillarsconsulting.com Yuqing Li · 7 Pillars Institute via serper

Referenced by nodes (1)

• payday lending concept