Loan shark

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Related to Lone shark: loan shark

Loan shark

Someone who issues loans with interest rates above the maximum legal level, often thought to come with threats from the lessor. Loan sharks typically are associated with organized crime, but this is becoming more rare with the emergence of regulated methods that accompany high-risk loans such as subprime and payday lender. See: Usury

Loan Shark

A person who makes illegal loans, usually by charging an extraordinarily high interest rate. For example, a loan shark may lend $1,000 at a 2,000% annualized interest rate, which is illegal in most states. Loan sharks are not financial institutions; they often "collateralize" their loans with threats of violence. Loan sharking often is associated with organized crime. See also: Usury.
References in periodicals archive ?
A few lone sharks swam up to the shoreline and holidaymakers photographed their close encounters - from a safe distance.
What is different now is that women needn't be the lone sharks who have to sacrifice a home and family for a life on the road.
Taylor Doherty had the lone Sharks goal while Dallas Jackson scored for Bridgeport.
Other British talent includes Scotland's Brian Hughes and the Lone Sharks, one of the few UK artists to have a publishing deal in Nashville.
What they discover next does uncover the secret legacy of Elvis Presley, but they are surprised to discover links to the underground world of lone sharks and greedy thugs.
Lone sharks taking advantage of residents on inner city West Midlands estates are to be targeted in a major new Government drive to tackle poverty.