[snypher]

Asian people could shop at other stores if they wanted to, but Black people may have/historically have had reduced access to 'conventional' credit.

[Johnjonjoan]

Yes I agree. Some reasons for reduced access to credit are smaller loans which fixed costs dig deeper into, shorter loans which entail a lower duration of interest, and the higher risk of default.

Conventional credit would rather not touch this lending because it sees lower hanging fruit.

To me this explains why payday loans have higher interest without being any more predatory than other profit seeking enterprises.