Florida Statutes
Fla. Stat. § 687.071 (2025)
Criminal usury, loan sharking.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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687.071 Criminal usury, loan sharking.—
(1) DEFINITIONS.—The following words and phrases, as used in this section, shall have the following meanings:
(a) “Person” shall be construed to be defined as provided in s. 1.01.
(b) “Creditor” means any person who makes an extension of credit or any person claiming by, under, or through such person.
(c) “Debtor” means any person who receives an extension of credit or any person who guarantees the repayment of a loan of money for another person.
(d) “Extension of credit” means to make or renew a loan of money or any agreement for forbearance to enforce the collection of such loan.
(e) “Extortionate extension of credit” means any extension of credit whereby it is the understanding of the creditor and the debtor at the time an 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.
(f) “Loan shark” means any person as defined herein who lends money unlawfully under subsection (2), subsection (3), or subsection (4).
(g) “Loan sharking” means the act of any person as defined herein lending money unlawfully under subsection (2), subsection (3), or subsection (4).
(2) Unless otherwise specifically allowed by law, any person making an extension of credit to any person, who shall willfully and knowingly charge, take, or receive interest thereon at a rate exceeding 25 percent per annum but not in excess of 45 percent per annum, or the equivalent rate for a longer or shorter period of time, whether directly or indirectly, or conspires so to do, commits a misdemeanor of the second degree, punishable as provided in s. 775.082 or s. 775.083.
(3) Unless otherwise specifically allowed by law, any person making an extension of credit to any person, who shall willfully and knowingly charge, take, or receive interest thereon at a rate exceeding 45 percent per annum or the equivalent rate for a longer or shorter period of time, whether directly or indirectly or conspire so to do, commits a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
(4) Any person who shall knowingly and willfully make an extortionate extension of credit to any person or conspire so to do commits a felony of the second degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084. In any prosecution under this subsection, evidence that the creditor then had a reputation in the debtor’s community for the use or threat of use of violence or other criminal means to cause harm to the person, reputation, or property of any person to collect extensions of credit or to punish the nonrepayment thereof shall be admissible.
(5) Books of account or other documents recording extensions of credit in violation of subsections (3) or (4) are declared to be contraband, and any person, other than a public officer in the performance of his or her duty, and other than the person charged such usurious interest and person acting on his or her behalf, who shall knowingly and willfully possess or maintain such books of account or other documents, or conspire so to do, commits a misdemeanor of the first degree, punishable as provided in s. 775.082 or s. 775.083.
(6) No person shall be excused from attending and testifying or producing any books, paper, or other document before any court upon any investigation, proceeding, or trial, for any violation of this section upon the ground or for the reason that the testimony or evidence, documentary or otherwise, required of the person may tend to convict him or her of a crime or subject the person to a penalty or forfeiture, but no person shall be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he or she may so testify or produce evidence, documentary or otherwise, and no testimony so given or produced shall be received against the person upon any criminal investigation or proceeding.
(7) No extension of credit made in violation of any of the provisions of this section shall be an enforceable debt in the courts of this state.
Arrestable Offenses under F.S. 687.071
M = misdemeanor · F = felony · degree: F=1st S=2nd T=3rd§687.071(2)FRAUDLOAN SHARKING INTEREST EXCEEDS 25 UP TO 45 PCT
§687.071(3)FRAUDLOAN SHARKING INTEREST EXCEEDS 45 PCT
§687.071(4)EXTORTLOAN SHARKING CREDIT EXTENSION
§687.071(5)FRAUDPOSS LOAN SHARKING EXTORTION DOCS
Notes of Decisions
Cited in 84
cases (7 in the last 5 years), 1971–2026 · leading case: Wilensky v. Fields, 267 So. 2d 1 (Fla. 1972).
Wilensky v. Fields, 267 So. 2d 1 (Fla. 1972). “The question certified to this Court is as follows: "Are the provisions of Chapter 69-135 [ Fla. Stat. § 687.071 ] [F.S.A.] providing criminal penalties for usurious transactions and declaring any debt made in violation thereof unenforceable, retroactively applicable to usurious…”
Polakoff v. State, 586 So. 2d 385 (Fla. 5th DCA 1991). “Section 687.071(2) makes it a second degree misdemeanor to willfully and knowingly charge, take or receive interest in excess of 25% per annum.”
Oregrund Ltd. P'ship v. Sheive, 873 So. 2d 451 (Fla. 5th DCA 2004). “Section 687.071, entitled "Criminal usury, loan sharking; shylocking," provides: (2) Unless otherwise specifically allowed by law, any person making an extension of credit to any person, who shall willfully and knowingly charge, take, or receive interest thereon at a rate…”
Jersey Palm-Gross, Inc. v. Paper, 658 So. 2d 531 (Fla. 1995). “Section 687.071(2), Florida Statutes (1993), defines criminal usury as the willful and knowing charge or receipt of interest in excess of 25% per annum.”
Cont'l Mtg. Inv. v. Sailboat Key, Inc., 354 So. 2d 67 (Fla. 3d DCA 1977). “In Wilensky the parties had entered into the usurious transaction prior to the enactment of Section 687.071, Florida Statutes in 1969 and finding this statute to be criminal in nature, the Supreme Court refused to apply it retroactively.”
In Re Stand. Jury Instructions in Crim. Cases-report No. 2014-08, 176 So. 3d 938 (Fla. 2015). “Insert definition of loan sharking from § 687.071 Fla. Stat. Insert explanation of the statute of frauds from § 725.”
Marill Alarm Sys., Inc. v. Equity Funding Corp. (In Re Marill Alarm Sys., Inc.), 81 B.R. 119 (S.D. Fla. 1987). “Count I claims that appellants violated Fla.Stat. § 687.071 (the Florida usury statute) and prays that Open Door’s notes be cancelled and that all principal and interest paid be returned to *121 Marill.”
Mickler v. Maranatha Realty Assoc., Inc. (In Re Mickler), 50 B.R. 818 (Bankr. M.D. Fla. 1985). “Applying the foregoing legal principles to the facts as set forth above, this Court is satisfied that the transaction between Maranatha and Kreimer, as lenders and Mickler, via Strother, as borrower, is violative of § 687.071 Fla.Stat. (1977) inasmuch as the interest sought to…”
Title & Trust Co. of Florida v. Parker, 468 So. 2d 520 (Fla. 1st DCA 1985). “Our examination of the issues in this cause reveals no authority directly addressing the fact pattern confronting us.”
In re Stand. Jury Instructions in Crim. Cases-Rreport No. 2012-08, 131 So. 3d 692 (Fla. 2013). “Insert definition of loan sharking from § 687.071 Fla. Stat. Insert explanation of the statute of frauds from § 725.”
Beausejour Corp. v. Offshore Dev. Corp. (In Re Offshore Dev. Corp.), 37 B.R. 96 (Bankr. M.D. Fla. 1984). “In regards to the issue of usury, the applicable statute is Fla.Stat. § 687.071 which provides in pertinent part as follows: § 687.”
State v. Powell, 343 So. 2d 892 (Fla. 1st DCA 1977). “) The foregoing statute relates only to immunity arising out of an investigation, proceeding or trial under § 687.071, Fla. Stat. 1973, the section dealing with criminal usury, loansharking, or shylocking.”
— 687.071(1) — 1 case
Fields v. Wilensky, 247 So. 2d 477 (Fla. 4th DCA 1971).
— 687.071(1)(f) — 1 case
Lawyers Title Ins. Corp. v. Wells, 881 So. 2d 668 (Fla. 5th DCA 2004).
— 687.071(2) — 19 cases
Polakoff v. State, 586 So. 2d 385 (Fla. 5th DCA 1991). “Section 687.071(2) makes it a second degree misdemeanor to willfully and knowingly charge, take or receive interest in excess of 25% per annum.”
Party Yards, Inc. v. Templeton, 751 So. 2d 121 (Fla. 5th DCA 2000).
Jersey Palm-Gross, Inc. v. Paper, 658 So. 2d 531 (Fla. 1995). “Section 687.071(2), Florida Statutes (1993), defines criminal usury as the willful and knowing charge or receipt of interest in excess of 25% per annum.”
Valliappan v. Cruz, 917 So. 2d 257 (Fla. 4th DCA 2005).
Pinchuck v. Canzoneri, 920 So. 2d 713 (Fla. 4th DCA 2006).
— 687.071(3) — 14 cases
Polakoff v. State, 586 So. 2d 385 (Fla. 5th DCA 1991). “Section 687.071(2) makes it a second degree misdemeanor to willfully and knowingly charge, take or receive interest in excess of 25% per annum.”
Title & Trust Co. of Florida v. Parker, 468 So. 2d 520 (Fla. 1st DCA 1985). “Our examination of the issues in this cause reveals no authority directly addressing the fact pattern confronting us.”
Redish v. State, 525 So. 2d 928 (Fla. 1st DCA 1988).
Marill Alarm Sys., Inc. v. Equity Funding Corp. (In Re Marill Alarm Sys., Inc.), 81 B.R. 119 (S.D. Fla. 1987). “Count I claims that appellants violated Fla.Stat. § 687.071 (the Florida usury statute) and prays that Open Door’s notes be cancelled and that all principal and interest paid be returned to *121 Marill.”
Oregrund Ltd. P'ship v. Sheive, 873 So. 2d 451 (Fla. 5th DCA 2004). “Section 687.071, entitled "Criminal usury, loan sharking; shylocking," provides: (2) Unless otherwise specifically allowed by law, any person making an extension of credit to any person, who shall willfully and knowingly charge, take, or receive interest thereon at a rate…”
— 687.071(5) — 1 case
Mertens v. Div. of Consum. Servs., State, Dep't of Agric. & Consum. Servs., 596 So. 2d 89 (Fla. 1st DCA 1992).
— 687.071(6) — 2 cases
State v. Powell, 343 So. 2d 892 (Fla. 1st DCA 1977). “) The foregoing statute relates only to immunity arising out of an investigation, proceeding or trial under § 687.071, Fla. Stat. 1973, the section dealing with criminal usury, loansharking, or shylocking.”
Mertens v. Div. of Consum. Servs., State, Dep't of Agric. & Consum. Servs., 596 So. 2d 89 (Fla. 1st DCA 1992).
— 687.071(7) — 29 cases
Wilensky v. Fields, 267 So. 2d 1 (Fla. 1972). “The question certified to this Court is as follows: "Are the provisions of Chapter 69-135 [ Fla. Stat. § 687.071 ] [F.S.A.] providing criminal penalties for usurious transactions and declaring any debt made in violation thereof unenforceable, retroactively applicable to usurious…”
Jersey Palm-Gross, Inc. v. Paper, 658 So. 2d 531 (Fla. 1995). “Section 687.071(2), Florida Statutes (1993), defines criminal usury as the willful and knowing charge or receipt of interest in excess of 25% per annum.”
Gables Ins. Recovery, Inc. v. Citizens Prop. Ins. Corp., 261 So. 3d 613 (Fla. 3d DCA 2018).
Rollins v. Odom, 519 So. 2d 652 (Fla. 1st DCA 1988).
Cont'l Mtg. Inv. v. Sailboat Key, Inc., 354 So. 2d 67 (Fla. 3d DCA 1977). “In Wilensky the parties had entered into the usurious transaction prior to the enactment of Section 687.071, Florida Statutes in 1969 and finding this statute to be criminal in nature, the Supreme Court refused to apply it retroactively.”
— 687.071(l)(d) — 1 case
Mickler v. Maranatha Realty Assoc., Inc. (In Re Mickler), 50 B.R. 818 (Bankr. M.D. Fla. 1985). “Applying the foregoing legal principles to the facts as set forth above, this Court is satisfied that the transaction between Maranatha and Kreimer, as lenders and Mickler, via Strother, as borrower, is violative of § 687.071 Fla.Stat. (1977) inasmuch as the interest sought to…”
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