4 ms·
The US has usury laws? I thought those were abandoned decades ago? Serious question... I thought Delaware started by getting rid of them and everyone else fol
by otakucode 12y ago
The US has usury laws? I thought those were abandoned decades ago? Serious question... I thought Delaware started by getting rid of them and everyone else followed suit to attract the business of consumer lending companies? What level does interest have to be to qualify as 'usury' now?
- downandout 12y agoUsury is defined by individual state law. Some states have no usury laws, but many do. There are loopholes in alot of them as well. Here's a summary of the state laws: http://www.lendingkarma.com/content/state-usury-laws-legal-interest-rates/ http://www.lendingkarma.com/content/state-usury-laws-legal-i...