LEGAL GUIDE
Written by attorney Bob Benjy | Sep 7, 2018

Usury - When a lender charges more than the law allows.

Usury is generally defined as an illegally high rate of interest on a financing (loan) arrangement. With certain exceptions (e.g., banks and licensed finance lenders), loans may not charge more than 10.0% APR. Generally, loans made over this amount are extremely problematic for the lender.

Rate this guide


Can’t find what you’re looking for?


Post a free question on our public forum.

Ask a Question

- or -

Search for lawyers by reviews and ratings.

Find a Lawyer