Shylock is a Jewish money lender in Shakespeare's "The Merchant of Venice." The term, shorthand for loan shark, has long been considered offensive.

Shylock refers to the villainous Jewish moneylender in Shakespeare’s “The Merchant of Venice” who demands a pound of flesh from a debtor.

Trump was asked Friday about his use of the term “Shylock” during his campaign rally in Iowa, when the president said about his domestic policy bill, “Think of that: no death tax, no estate tax, no going to the banks and borrowings from in some cases a fine banker. And in some cases, Shylocks and bad people.”