Loan Shark

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Loan Shark

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.

References in periodicals archive ?
Like the Morris Plan Banks, credit unions tried to make use of anti loanshark feeling.
Considerable attempts to create a single economy of credit, in part through regularizing microlenders (especially the much-demonized loansharks or mashonisas), have been made by the South African government, notably through the National Credit Act.
The brave builder has now revealed the full horrific ordeal he suffered at the home of Birmingham loanshark Lee Walker and his equally ruthless son, Christopher.
IF you have borrowed from a loanshark you are under no legal obligation to repay the debt which is why loan sharks often resort to violence and intimidation.
MIAMI loanshark John Travolta finds himself on the wrong side of the law once more in this thoroughly entertaining, hip and refreshing gangster comedy which takes aim at Hollywood and its players.
NIGHTMARE Kevin and Debbie Wilson THE HOUSE Ill-gotten gains paid to kit out his kitchen THE pounds 2,000 TV One of two plasma screens he bought DESIGNER GEAR Reynolds could afford to get the top labels THE WHEELS He splashed the cash on expensive alloys THE LOANSHARK Robert Reynolds escaped prison sentence
LOANSHARK and hunk John Travolta muscles in on the film business when collecting a debt in Hollywood.
(2014); Jenna Wims Hashway, Litigation Loansharks: A History of
PEOPLE on Universal Credit are being forced to use loansharks because some banks will not accept the benefit as part of their income.
That turns out to be Vincent Benedict, played by DeVito, who is the polar opposite of Julius in every way; a short, unattractive crook in trouble with loansharks. The War of the Roses (1989) Another black comedy film directed by DeVito, where he also stars divorce lawyer Gavin D'Amato, who opens up the film in his office to a client, detailing the story of what happened between his friend, Oliver Rose (Douglas) and wife Barbara Rose (Kathleen Turner).
Diane Hellwig, Note, Exposing the Loansharks in Sheep's Clothing: Why Re-Regulating the Consumer Credit Market Makes Economic Sense, 80 Notre Dame L.