Usury laws establish the maximum loan amounts,interest rates,and credit-related fees for different types of loans from various sources.

Question

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Usury laws vary by state and may also be known as interest rate caps or lending limits. These laws are meant to protect consumers from excessive interest rates and fees, particularly in the case of low-income borrowers who may be more vulnerable to predatory lending practices.

Usury Laws Establish the Maximum Loan Amounts,interest Rates,and Credit-Related Fees