Examples of Usury in a sentence
Each State’s Usury Rate varies therefore it’s important to know the rate before charging the borrower an interest rate.
In this example, our loan originates in the State of New York, which has a maximum Usury Rate of 16% which we will use.
In no event shall any agreed-to or actual exaction as consideration for this Note exceed the limits imposed or provided by Applicable Usury Laws in the jurisdiction in which the Company is resident applicable to the use or detention of money or to forbearance in seeking its collection in the jurisdiction in which the Company is resident.
Step 3 – Interest The interest charged on a loan is regulated by the State in which it originates and it’s governed by the State’s Usury Rate Laws.
Usury, or any consumer credit protection or truth-in-lending law.