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A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to enforce the satisfaction of the debt. [1]
Vigorish (also known as juice, under-juice, the cut, the take, the margin, the house edge or the vig) is the fee charged by a bookmaker for accepting a gambler's wager. In American English, it can also refer to the interest owed a loanshark in consideration for credit.
A loan may be considered usurious because of excessive or abusive interest rates or other factors defined by the laws of a state. Someone who practices usury can be called a usurer, but in modern colloquial English may be called a loan shark.
Police in Rome say they have dismantled a brutal loansharking ring just as many shopkeepers are desperate for liquidity after being closed for weeks during COVID-19 lockdown. The crackdown ...
And let’s call this what it is, this is loan sharking,” he stated. ... Texas man used to spend $9,000 a month partying, now refuses to work more than 15 hours a week to pay off debt.
New York sues loan shark group accused of charging Manhattan’s City Bakery and other small businesses ‘illegal’ rates of up to 820%. María Soledad Davila Calero. March 5, 2024 at 4:06 PM.
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Democrats Bernie Sanders and Alexandria Ocasio-Cortez introduced on Thursday a plan to rein in the profit banks can collect from consumers, proposing to cap credit card interest rates at 15%.