exploitative lender
[ɪkˈsplɔɪtətɪv ˈlɛndər]
nounpl: exploitative lenders
credor explorador
1. A person or institution that lends money at excessively high interest rates or under unfair terms, taking advantage of borrowers in financial hardship
The exploitative lender charged interest rates of 300% annually to vulnerable borrowers.
O credor explorador cobrava taxas de juros de 300% ao ano de mutuários vulneráveis.
2. A financial entity that uses predatory lending practices to maximize profits at the expense of borrowers' financial wellbeing
Consumer advocates criticized the exploitative lender for targeting low-income families.
Defensores dos consumidores criticaram o credor explorador por direcionar famílias de baixa renda.
In Brazil, exploitative lending is a significant social issue affecting lower-income populations. The term 'agiota' is widely recognized colloquially for informal loan sharks. In the USA, this practice gained prominence during discussions of payday lending and subprime mortgages, particularly following the 2008 financial crisis. Consumer protection laws like the Dodd-Frank Act were implemented to regulate such practices.
NYC Slang
loan shark / shylock
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