State usury laws

State usury laws are regulations that limit the maximum interest rates lenders can charge on loans. These laws aim to protect consumers from excessively high interest rates and predatory lending practices. Each state sets its own usury rate, and violations can lead to penalties for lenders. While these laws help ensure fair borrowing costs, they can also make it harder for high-risk borrowers to access credit, as lenders may be less willing to lend at lower rates. Understanding usury laws is important for both borrowers and lenders to navigate the lending landscape responsibly.