Several years ago, I complained about the payday loan industry. This ‘financial system’ makes the neighborhood loan shark look downright welcoming. After all, if one needs to borrow $ 200 for a week until payday, s/he is slapped with a (loan origination) fee of $ 15 and an interest charge of $ 20. That is exactly what Lenny the Arm used to charge when he operated on the back streets of Brooklyn. (In case your math is weak, the fee for this loan is about 300%!)