Charging more interest on a loan than the legal limit Usury laws vary widely from state to state and in certain instances have been preempted by federal regulations and rulings
Excessive or illegal interest rate Most countries now prohibit interest rates above a certain level; and rates which exceed these levels are called "usury"
When an individual is charged an interest rate that is higher than what the law will allow Usury is illegal
disapproval Usury is the practice of lending money at a high rate of interest. the practice of lending money to people and making them pay interest (4) (usuria, from usura , from usus; USE). In law, the crime of charging an unlawfully high rate of interest. In Old English law, the taking of any compensation whatsoever was termed usury. With the expansion of trade in the 13th century, the demand for credit increased, necessitating a modification in the definition of the term. In 1545 England fixed a legal maximum interest, a practice later followed by other Western nations
U Underwriting In mortgage lending, the process of determining the risks involved in a particular loan and establishing suitable terms and conditions for the loan Usury Interest charged in excess of the legal rate established by law
the act of lending money at an exorbitant rate of interest an exorbitant or unlawful rate of interest
the practice of charging more for a loan than law permits In committing usury, the lender sets your interest rate (see Interest) above the maximum rate allowed by law