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Someone who practices usury can be called a usurer, but in modern colloquial English may be called a loan shark. In many historical societies including ancient Christian, Jewish, and Islamic societies, usury meant the charging of interest of any kind, and was considered wrong, or was made illegal. [ 3 ]
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]
A loan may be considered usurious because of excessive or abusive interest rates or other factors defined by a nation's laws. Someone who practices usury can be called an usurer , but in contemporary English may be called a loan shark .
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Attorney General Letitia James is seeking $1.4 billion in damages. New York sues loan shark group accused of charging Manhattan’s City Bakery and other small businesses ‘illegal’ rates of up ...
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According to the Talmud, the debtor would be as guilty as the lender, since it interprets one of the biblical verbs referring to usury, namely tashshik, [11] to be in the causative voice; [6] due to the Talmud's figurative interpretation of the lifnei iver regulation, it even regards any witnesses to usury contracts, as well as the scribe ...
Vix pervenit is an encyclical, promulgated by Pope Benedict XIV on November 1, 1745, which condemned the practice of charging interest on loans as usury.Because the encyclical was addressed to the bishops of Italy, it is generally not considered ex cathedra.