usury laws


Laws created to prohibit the practice of usury. These laws regulate the maximum interest rates that can be set for loans, in order to protect borrowers.

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I was not into usury laws and I also knew nothing about them, so I did not know if I was breaking one.

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You need to make sure that you are caught up on any usury laws and that you are always following them.

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Usury laws are laws that protect borrowers from excessively high interest rates in order to insure that a lender is not abusing the borrower or designing a situation where the lender will never be able to pay off the debt completely, thereby becoming a virtual slave to the lender in perpetuity.

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