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Loan Shark

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.

A person who lends money in exchange for its repayment at an interest rate that exceeds the percentage approved by law and who uses intimidating methods or threats of force in order to obtain repayment.

In most jurisdictions Usury laws regulate the charging of interest rates. Loan sharking violates these laws, and in many states it is punishable as a criminal offense. The usual penalty imposed is a fine, imprisonment or both.
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They have proved so successful prosecuting some of the country's most notorious loan sharks that the city team is now helping authorities across the country free hard-up families from the illegal lenders' vice-like grip.
Team bites loan sharks; TRADING STANDARDS: Praise for 'trailblazing' ... by Birmingham Mail (England)
S Officers busted the home of an alleged loan shark in Newcastle's West End, where they seized large quantities of money and log books with customers' details written inside.
Gang smashed; Raid targets illegal money-lending racket by Evening Chronicle (Newcastle, England)
Byline: SAM CASEY A CAMPAIGN to combat loan sharks has been launched in Huddersfield.
Beating the loan sharks by Huddersfield Daily Examiner (Huddersfield, England)
 
 
 
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