3 ms·
A bit like when usury used to be illegal. You can write a note (borrow money) but you can’t collect interest on notes from others
by hammock 3y ago
A bit like when usury used to be illegal. You can write a note (borrow money) but you can’t collect interest on notes from others
- deleted 3y ago[deleted]
- 111111IIIIIII 3y ago[flagged]
- anjel 3y agoUS Usury laws were if not eliminated, substantially curtailed in th last 30 years. There used to be interest rate caps on consumer loans. Now we have Payday Loan Titans. In California, you can only charge a max of 10% interest if you want to seller-finance real estate. The way to charge more than 10% is to become a regulated bank which is non-trivial and capital-intense.
- 111111IIIIIII 3y ago[flagged]
- anjel 3y ago[flagged]