payday lender


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payday lender

n
(Banking & Finance) a person or group that offers short-term loans, in advance of payday, at high rates of interest
payday lending n
References in periodicals archive ?
When these cards are overdrawn, the payday lender then can reach into the consumers bank account and charge the overdraft fee, piling on further debts.
Mick Mulvaney's Consumer Financial Protection Bureau (CFPB) quietly closed an investigation into a payday lender headquartered in Mulvaney's home state Monday.
Most of us regard banks as more reputable and fair than payday lenders, and so it is a bitter irony that it is a better deal for some people who need short-term credit to go to a payday lender than to go to their high street bank.
Citizens Advice found a number cases where a payday lender asked Follow us on Twitter: @WalesOnline people to share their internet banking details including login and password so a lender could directly access their account and adjust funds without advance permission from the borrower.
British payday lender Wonga is expected to reveal that its losses roughly doubled last year, amid tighter regulations, Sky News reported on Tuesday.
The guidance comes after payday lender Wonga recently launched a new advertising campaign featuring "hard-working dinner ladies and mums" after ditching its controversial puppet ads.
Given the different constrains on interest rates and other aspects of the payday loan products, we empirically examine the relationship between the number of payday lender stores and various demographic and economic characteristics.
The UK's biggest payday lender, Wonga, is shedding 325 jobs due to the impact the rules have on its profit.
MOUNTAIN VIEW -- Deadlier than a loan shark is the predatory payday lender.
Recurring payments A recurring payment (otherwise known as a continuous payment authority) lets the payday lender take money directly from your account on the repayment date.
This basically gives the payday lender the right to dip into your bank account or credit card and take your money.
Its findings suggest that someone who is turned away by a payday lender is twice as likely to go a loan shark as they are to seek help from a credit union.