Mainly, they use a melee attack or charge, but they occasionally throw a lightning ball that can momentarily stun the Vault Hunter.
The easiest way to take down a Loot Goon is to get behind cover or atop a roof. It will then do a "taunting" animation, whereupon the Vault Hunter can plink away with headshots for an easy kill. Conversely, just backpedal and blast away at its head with a shotgun.
Besides lobbing lightning balls, they occasionally perform an electric slam attack that is similar to Sledge's skill, and does considerable damage to shields.
Like a Tankenstein, killing a Loot Goon with a critical headshot does not produce a zombie brain.
The contents of the Loot Goon's weapon chest have the same level as the Loot Goon. In the endgame, this is one of the few sources of level 69 gear.