Loansharking is an offense under the Consumer Credit Protection Act of 1968.

Name: Loansharking is an offense under the Consumer Credit Protection Act of 1968.
Brand: Quizplus
Rating: 4.9 (57 reviews)

Question

Quizplus · Accepted Answer

Loansharking, which is the act of lending money at extremely high interest rates, is considered a form of illegal and predatory lending under the Consumer Credit Protection Act of 1968. The act established rules and regulations to protect consumers from various unfair lending practices, including loansharking.

Loansharking Is an Offense Under the Consumer Credit Protection Act