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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]
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.
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.
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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“There isn’t, which is why it’s so important to avoid debt whenever possible: It’s very difficult to make up the financial impact of those interest rates. “Too much debt or missed debt ...
The business, which generated over $3.5 billion in revenue from just 2008 to June 2013, [1] ultimately made loans to at least 4.5 million Americans. [1] When state regulators tried to shut down his operations, Tucker made deals with Native American tribes to claim ownership of his business and invoke sovereign immunity from state courts. [2]
The biggest refugee crisis in recorded history has engulfed continents, swung elections and fueled the rise of nativism. It has also made a lot of people very, very rich.