Usury Laws
Usury laws are regulations that limit the amount of interest a lender can charge on loans. These laws are designed to protect borrowers from excessively high interest rates that can lead to financial exploitation. Each state or country may have its own specific rules regarding what constitutes usury, including potential criminal penalties for lenders who charge above the legal limit. By enforcing these laws, governments aim to promote fair lending practices and ensure that borrowing remains accessible and manageable for individuals and businesses.
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Usury laws are regulations that set limits on the maximum interest rates lenders can charge borrowers. These laws aim to protect consumers from exploitative lending practices and prevent loans from becoming unmanageable due to excessively high interest rates. Different jurisdictions have varying usury laws, with some having strict caps on rates, while others are more flexible. Violating these laws can result in penalties, including the forfeiture of interest or loan repayment. Overall, usury laws help promote fairness in lending and ensure that borrowers are treated responsibly.