Usury


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Related to Usury: Usury laws, Usury Rates

Usury

This term is generally used to denote an illegal predatory lending practice in which a lender charges an interest rate on a loan that is considered to be excessive or in violation with interest rate limits as established by some state governments. An excessively high interest rate that is overly burdensome for the borrower. A lender may set an interest rate unreasonably high if they believe that the borrower may not be able to repay the loan and interest. Limits on interest rates vary from state to state within the U.S. See: Loan shark, Usury laws

Usury

An excessively high interest rate. Different jurisdictions have different regulations as to what constitutes usury, but most places have laws protecting consumers from the practice of borrowing at such an interest rate. In some cases, as in Islamic finance, any interest at all is considered to be usury, and, therefore, providers of funding must find different ways to provide financing at a profit.

usury

An interest rate higher than allowed by state law. The limits usually vary depending on the size of the loan,the term,the use of the money,and/or the status of the borrower as a consumer or other type of borrower. The consequences of usury may range from a reduction of the interest rate, loss of all interest completely, or even civil fines or penalties.

References in periodicals archive ?
Although the case law on usury, for a variety of reasons, is extensive and can be complex, the basic concept of usury is straightforward, namely, that the charging of an excessive ("usurious") interest rate on a loan is illegal.
Financial institutions in Islamic states were expected to follow religious stipulations against usury, which thus fostered social equity, mutuality, and community initiatives, such as Grameen Bank in Bangladesh, but also tempered economic growth and the promotion of banking institutions.
After spending a couple of chapters on usury, Niewdana answers the question as to whether the "interest" being charged by banks could be considered as legitimate extrinsic titles or whether it is usury.
In 1983 the Islamic Ideology Council of Pakistan reported that there is consensus on the concept of riba among the Muslims and is equal to all kinds of usury and interest.
It serves as a useful introduction to the Christian and Muslim disdain for usury and raises important questions about the prevalence of debt in our economy.
By focusing on usury as the direct caust of Timon's ruin, Shakespeare explores how economics exposes and changes the ethical relations between individuals.
Usury is the principal problem of the modern age, and if it is not yet widely understood as such that is because people fail to recognize its true identity or to understand its real nature.
The committee then decided it was prohibited to buy shares in companies dealing in usury.
P }OP]h b[>[b`D ^hPD Bob Noxious: "Cisse refuses to wear the shirt due to Islam condemning usury .
The Parliament of Kyrgyzstan on Thursday approved the bill in the first reading restricting usury in Kyrgyzstan, which was initiated by Ata Meken faction leader Omurbek Tekebaev.
Usury is pernicious at best, but government-endorsed usury lite helping people in dire financial straits is flat out repugnant.
The Shariah of Islam makes no distinction between interest and usury.