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Glossary > L > "Loan Sharking" Definition

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.

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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.

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.