The Huffington Post
By: Ellen Schloemer
August 29, 2012
Payday lenders know their name is mud.
That's why they've started calling themselves "nonbank lenders"--nixing any mention of "payday," in hopes a name change will help shed their loan-shark image. But that's hard to do when they still offer loans at 400 percent interest, designed to trap the financially vulnerable in debt.