Salary buying, a predatory lending scheme targeting urban laborers, began in the 1890s where finance companies prepaid workers their weekly pay in advance at interest rates commonly exceeding 20 percent per day.

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)

• predatory lending concept