Usury Act (Various jurisdictions)

Usury laws in various jurisdictions regulate the maximum interest rate that lenders can charge on loans to prevent excessive and unfair practices. They aim to protect borrowers from predatory lending by setting legal limits on interest, fees, or both. These laws vary by location and may specify different caps for different types of loans or borrowers. Violating usury laws can render the interest charges unenforceable, reducing the lender's ability to collect excessive interest. Overall, usury acts serve to promote fair lending practices and financial stability.