Stephen Fossey has been spared prison for operating as a loan shark. While he was breaking the law by not having a permit, he was nevertheless lending at fairly modest rates of interest, imposing no penalty charges, and never threatening anyone he loaned to.
Payday loan firms habitually charge truly shocking rates of interest, and are acting legally. I merely observe the fact.
Lending money at interest is quite simply usury. It is an old-fashioned word, but entirely fitting.
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