- The act or practice of lending money and charging the borrower interest at an exorbitant or illegally excessive rate.
shark, swindler, Shylock, loan shark
Related Terms and Acronyms
- Loan Shark — Definition,
- A lender that provides loans at usuriously high interest rates, often ensuring repayment with the threat of force.
- Payday Loan — Definition,
- A short-term loan with an extremely high interest rate.
- Predatory Lending (PL) — Acronym, Important,
- Lending practices that are unfair, deceptive or fraudulent.
- Title Loan — Definition,
- A loan that uses a car as collateral.
- Tort — Definition,
- An act that causes harm or loss.
- Usurious Rate — Definition,
- An interest rate that is unnecessarily high or well above legal rates. For example, sometimes intangible property taxes are applied to income from usurious rates.