Usury laws are designed to ensure that interest rates in the market do not exceed acceptable norms.

Question

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Usury laws are put in place to prevent lenders from charging excessive interest rates on loans, credit cards, or other forms of borrowing. The laws vary by jurisdiction and may include caps on interest rates or fees. The purpose of usury laws is to protect consumers from predatory lending practices and to promote fairness in lending.

Usury Laws Are Designed to Ensure That Interest Rates in the Market