Predatory lenders. Payday lenders strip excessive fees from Americans who think they're getting a two-week loan and end up trapped in debt. Across the nation payday borrowers are paying more in interest, at annual rates of 400 percent, than the amount of the loan they originally borrowed. Lenders collect 90 percent of their revenue from borrowers who cannot pay off their loans when due, rather than from one-time users dealing with short-term financial emergencies.