Usury laws are intended to protect unsophisticated borrowers from loan sharks and others who charge exorbitant rates of interest.

Question

Quizplus · Accepted Answer

Usury laws set a legal limit on the interest rates that lenders can charge and are intended to protect borrowers, particularly those with limited financial knowledge, from predatory lending practices that result in high interest rates and fees.

Usury Laws Are Intended to Protect Unsophisticated Borrowers from Loan