Unlawful Loans

Unlawful Loans

Any loan made in a way contrary to the legal framework of the jurisdiction in which it is made. In general, an unlawful loan refers to a loan with an interest rate that is too high or with insufficient disclosure by one of the parties. See also: Truth in Lending Act.
References in periodicals archive ?
An investigation by DFS found that the company solicited and made loans to retired consumers at high interest rates in exchange for retirees assigning away several years of their pension benefits to pay for the unlawful loans.
He was convicted in 2014 of providing unlawful loans from Anglo Irish Bank to 10 property developers, dubbed the Maple Ten in 2008.
He is also suspected of playing a role in extending a massive amount of unlawful loans to a group of companies in Tokyo.
On Wednesday, law enforcement authorities served a fresh arrest warrant on former Kofuku Bank President Tokusuke Egawa on suspicion of causing financial damage to the bank through unlawful loans to Kowa Fudosan totaling 6.
arrested on suspicion of extending unlawful loans to an ailing construction company.
E[acute accent]"At no time did the Company or the Board of Directors bring these unlawful loans to the attention of the shareholders for approval.
the making of unlawful loans and extortionate extensions of credit); extortion from persons who were involved in legitimate and illegitimate businesses, including illegal gambling businesses; and the collection of unlawful debts.
On the same day the pair were convicted, they were cleared of giving unlawful loans to six members of fallen tycoon Quinn's family after a 48-day trial at Dublin's Circuit Criminal Court.
They are suspected of providing unlawful loans to the Kami Palace karaoke-parlor management company based in Mitaka, western Tokyo, with virtually no collateral, and causing massive losses to Kokumin Bank, which collapsed in April with a capital deficit of 109.
Ex-Anglo chairman Sean FitzPatrick, 65, and former executives Willie McAteer, 63, and 51-year-old Pat Whelan have all pleaded not guilty to 16 charges of providing unlawful loans for clients to buy shares in the bank.
They are suspected of providing unlawful loans to the Kami Palace karaoke-parlor management company based in Mitaka, western Tokyo, with virtually no collateral, thereby causing massive losses to Kokumin Bank, which collapsed in April with a capital deficit of 109.
Former chairman Sean Fitz-Patrick, 65, and former executives Willie McAteer, 63, and 51-year-old Pat Whelan have all pleaded not guilty to 16 charges of providing unlawful loans for clients to buy shares in the bank.