‘Loan Shark’: A Name Borrowed to Deliver a Financial Bite

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‘Loan Shark’: A Name Borrowed to Deliver a Financial Bite
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Not all sharks are in the ocean. The fearful term for the toothy fish goes back centuries, but may have first been applied to human villains

Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez have been garnering attention for a new proposal that would cap credit-card interest rates at 15 percent per year. They call it the Loan Shark Prevention Act, a provocative name that has nothing to do with curtailing the practices of “loan sharks” as traditionally defined.

A “loan shark,” as the American Heritage Dictionary puts it, is “one who lends money at exorbitant interest rates, especially one financed and supported by an organized crime network.” Mr. Sanders and...

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