Pay Day
I worked for a Porsche racing team, and one of our competitors always had STUPID amounts of luxurious stuff at the track. They basically constructed a hotel everywhere they went so that the owner got a premium experience. We found out this guy was the original payday loan guy. For all intents and purposes, he started it in the US.
As he acquired wealth doing this, many people were getting frustrated that they had to spend $900 to repay a $100 loan. So lawmakers made it against the law to charge the interest rates he was. Instead, he put his company headquarters on a reservation so he could continue doing just that. My co-workers were looking on his website and reading through the terms and fees and found the cheapest way to repay a $100 loan was $960.
As one can imagine, it became near impossible to climb out of debt. The terrible part was that if someone missed or could not make a payment, the company would immediately seize their vehicle and sell it. Thousands of families lost their homes and cars to this guy. Fortunately, he was convicted of racketeering for other shady things in his business. He’s behind bars now where he belongs.