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A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday."
A loan shark is a person or body who offers loans at extremely high interest rates usually without holding relevant authorization from the local financial regulator (illegally).
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The Tuck MBA features a rigorous general management curriculum, a tight-knit residential community, and a faculty committed to discovering new knowledge and sharing it with students.
But observers say Mulvaney's decision signals a more liberal interpretation of such linkages, paving the way for payday and installment lenders affiliated with Indian tribes to receive far less scrutiny.