Fernando obtains a consumer loan from Greater Regional Credit Union at an interest rate that exceeds the state's maximum.Greater Regional has
A)created a risk for the purpose of assuming it.
B) engaged in a restraint of trade.
C)violated a licensing statute.
D)committed usury.

Question

Fernando obtains a consumer loan from Greater Regional Credit Union at an interest rate that exceeds the state's maximum.Greater Regional has
A)created a risk for the purpose of assuming it. 
B) engaged in a restraint of trade.
C)violated a licensing statute.
D)committed usury.

Quizplus · Accepted Answer

Greater Regional Credit Union has committed usury by charging an interest rate that exceeds the state's maximum allowed. Usury refers to the charging of an excessive interest rate on a loan or credit agreement.

Fernando Obtains a Consumer Loan from Greater Regional Credit Union