Finance companies have traditionally been subject usury ceilings on the maximum loan rate charged to any individual customer.

Question

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Finance companies have historically been subject to usury laws, which set a maximum limit on the interest rates they can charge customers. However, in recent years, some states have raised or eliminated these limits for certain types of loans, such as payday loans or installment loans.

Finance Companies Have Traditionally Been Subject Usury Ceilings on the Maximum