u·su·ry
noun /ˈyo͞oZH(ə)rē/
The illegal action or practice of lending money at unreasonably high rates of interest Interest at such rates
Web definitions
- an exorbitant or unlawful rate of interest
- Usury (, comes from the Medieval Latin usuria, “interest” or from the Latin usura “interest”) originally meant the charging of interest on loans. This included charging a fee for the use of money, such as at a bureau de change. …
- usurious - exorbitant: greatly exceeding bounds of reason or moderation; “exorbitant rent”; “extortionate prices”; “spends an outrageous amount on entertainment”; “usurious interest rate”; “unconscionable spending”
- usurious - Of or pertaining to usury; Exorbitant
- The lending of money at exorbitant interest rates. Usury rates set by state law once capped credit card rates; fort the most part, they no longer do so. The concept of usury has largely been made irrelevant by federal law. Federal lawmakers decided to allow card issuers to “export” their rates. …
- 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. …
- The interest charged on a loan. Forbidden by church law (based upon biblical). Commonly used by Knight Hospitallers and Knight Templars in later medieval times. (MEDIEV-L. Medieval Terms)
- Charging interest in excess of the maximum rate as set by law.
- The exaction of a greater payment or return for a loan of money than is permitted by law.
- The additional interest charges on the legal rates that are enforced by the law.
- Charging more than the maximum legally permitted rate of interest. There is no usury limit for loans secured by a first trust.
- The charging of more interest than is allowed by law. In California, the maximum rate is 10%, except for certain lenders that are exempt from the usury laws.
- Interest rates above the legal rate, or statutory limit.
- The illegal act of charging extremely high interest rates on a loan.
- A contract is usurious if made for a loan of money at a rate of interest in excess of that permitted by statute.
