"Things You Wouldn't Know If We Didn't Blog Intermittently."
17 May 2018
What ever happened to usury laws ?
A recent mailing from Paypal made me wonder what the status is of state regulations on exorbitant interest rates. In an era of almost zero inflation, the numbers cited in the enclosure above seem to be over-the-top. Do usury laws still exist? Are certain types of lenders exempt?
I could look this up, but I bet some readers will already know the answer. I certainly don't plan to borrow from Paypal, but I'm curious. Thanks in advance.