On its 14th floor, overlooking America’s busiest toll plaza, is the headquarters of a tiny FDIC-insured bank named Cross River. Things have gotten worse since, as its lenders, including Cross River, have pulled back. A good deal of the loans Cross River carries have sky-high interest rates, forbidden in states like New York and Connecticut with strict usury laws. “Changing people’s lives is why we do this, before anything else.”Prior to his arrival at Cross River, Gade had a decidedly conventional career. Today Cross River continues to expand, seemingly oblivious to the looming risks.

Source: Forbes December 17, 2019 12:00 UTC