It's the loan recipient's responsibility but these predatory loan companies will offer you low interest if you pay back in a short period. The interest rate outside this window is absurd. It'll be low income folks that'll accept the terms out of desperation.

I'm generally on the side of businesses conducting commerce free from regulation, but at some point price gouging the lower class into interest payments in perpetuity probably requires some government intervention. The issue is, the government likes to go overboard.