EXTORTIONATE EXTENSION OF CREDIT

An "extortionate extension of credit" is any extension of credit with respect to which it is the understanding of the creditor and the debtor, at the time such extension of credit is made, that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation or property of any person.

Source:  General Statutes § 53-389 (a) (6) (applies to Extortionate Credit Transactions, §§ 53-390 -- 53-392).

Glossary