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Loan Sharking

 - 2 dictionary results
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loan⋅shark⋅ing

  [lohn-shahr-king]
Use Loan Sharking in a Sentence
–noun
the practice of lending money at excessive rates of interest.
Also, loan-sharking.

Origin:
1965–70, Americanism; loan shark + -ing 1
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
Cite This Source Link To Loan Sharking
Loan
Consolidate Bad Credit Card Bills. Lower Your Debt Without a Loan.
www.DebtReliefUSA.org
$1500 Cash Loan
Cash Wired to Your Bank in 1 Hour Apply, E-Sign, and Get Cash Today
Cash-Advances-in-1-Hour.com
Financial Dictionary

Loan Sharking

When a borrower is charged interest above an established legal rate. Depending on where you live, lenders typically cannot charge more than 60% interest per annum.

Investopedia Commentary

For example, I lend you $10,000 today and you must pay me back $20,000 within 30 days. Loan sharks usually prey on those who are struggling financially, it is highly illegal.

See also: Interest, Loan

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