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Loan Sharking
(redirected from loan shark)

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.04 sec.
Loan Sharking
When a borrower is charged interest above an established legal rate. Depending on where you live, lenders typically cannot charge more than 60% interest per annum.

Notes:
For example, I lend you $10,000 today and you must pay me back $20,000 within 30 days. Loan sharks usually prey on those who are struggling financially, it is highly illegal.

See also: Interest, Loan

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The average loan is about $200 and the bank has millions of customers who no longer have to rely on loan sharks.
She's a loan shark, a slum landlord, and the owner of a number of group homes, all part of her quest to become rich and powerful, no matter who she steps on along the way.
Danny is owned by Hoskins' Bart, a Glasgow loan shark.
 
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