Payday lenders are starting to make usurious loans up to 160% in states where those rates are illegal by using banks, which are not subject to state rate caps, as a fig leaf. Banks have little to do with the loans, which they immediately sell. Bank regulators shut down these schemes in the early 2000s, but two state-chartered banks, FinWise Bank and Republic Bank and Trust, both regulated by the FDIC, are again helping payday lenders evade the law in 28 states & DC.