Cory Doctorow on Nostr: Payday lenders are just unlicensed banks, who deploy a layer of bullshit to claim ...
Payday lenders are just unlicensed banks, who deploy a layer of bullshit to claim that they don't have to play by the rules that bind the rest of the finance sector. This scam is so juicy that it spawned the #FinTech industry, in which a bunch of unregulated banks sprung up to claim that they were too "innovative" to be regulated:
https://pluralistic.net/2023/05/01/usury/#tech-exceptionalismWhen you hear "Fintech," think "unlicensed bank."
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Published at
2023-09-27 16:23:51Event JSON
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