I agree - you would need to look at the default rates for interest rates on their loan to mean anything. I see a bunch of independent payday lenders with simil

I agree - you would need to look at the default rates for interest rates on their loan to mean anything. I see a bunch of independent payday lenders with similar rates. Are they a cartel and fixing their rates? Or are they in competition and all offer reasonable low rates considering the default rate of their clientele?