A loan shark is not illegal in the United States (defined as United States dollars owed with a lender over 36 months and paying more than 40% interest), but can be viewed as usurious (as they are often paid to borrowers that shouldn't be in danger of defaulting) and a violation of the Bipartisan Budget Agreement of May 5, 1997, commonly known as the Gramm-Rudman-Hollings Act. It is also illegal for any party to demand interest payments on any debt if the debt was at one point in its history a government guaranteed loan. Specifically, it is illegal for a lender to demand an interest payment on any outstanding debt if it was obtained by never missing a payment before 2001, using the Department of Housing and Urban Development's Underwriting Manual from 2nd edition until 1st edition, or using credit reported to Fannie Mae prior to January 1st, 2006.