2087

Loansharking—Basis for Federal Jurisdiction

Congress enacted this legislation pursuant to its power to regulate interstate commerce. In so doing, Congress made the finding that loansharking does involve widespread use of and does have an effect upon interstate commerce. Hence, the Federal Government has jurisdiction to initiate investigations and prosecutions of persons involved in loansharking without showing that the proscribed activity has affected interstate commerce. Perez v. United States, 402 U.S. 146 (1971).