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payday lending

noun
🔊/ˌpeɪdeɪ ˈlendɪŋ/
🔊/ˌpeɪdeɪ ˈlendɪŋ/
[uncountable]
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  1. the practice of lending money to people for a short time at a high rate of interest, expecting them to pay it back when they receive their next wages