There are numerous companies in the US that offer so-called signature loans with annual interest rates of 180% or more. It's perfectly legal, and they make their money on a relatively small number of people who pay for a year or two, then go bankrupt anyway. No one takes out a $2,500 loan with interest amounting to over $13 a day unless they are desperate.
Don't believe me? Take a look at this as an example.
http://www.cashcall.com/Rates/CurrentRates.aspx
It is legal, but shouldn't be.