usury
Usury refers to the practice of lending money at excessively high-interest rates, often considered exploitative. Historically, many cultures and religions have condemned usury, viewing it as unethical or immoral. Legal definitions of usury vary, with specific maximum interest rates established to protect borrowers. When lenders charge rates above these thresholds, they may face legal penalties. While borrowing can be necessary for financial growth, usury can lead to deep, unmanageable debt for individuals, making it a significant concern in discussions about fair lending practices and economic justice.
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Usury refers to the practice of charging excessively high interest rates on loans, often beyond what is considered reasonable or legal. Historically, many cultures and religions have condemned usury, viewing it as exploitative. It usually occurs in situations where borrowers have limited access to affordable credit, making them vulnerable to predatory lending. Laws regarding usury vary by jurisdiction, with some places enforcing strict limits on interest rates. In essence, usury exploits financial desperation, leading to cycles of debt that can be difficult for borrowers to escape.