6/4/2020 “Pay it back, pay it forward” In the commercial banking and lending model, shareholder returns in the public markets are dependent on charging high interest rates on loans (the most extreme example of this being the payday lending industry; less extreme examples being established financial institutions such as JP Morgan, Wells Fargo, Bank of America, etc.). Commercial banks and lenders generate high returns by leveraging the strength of their brands and the fact that less established...