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Usury Laws And Payday Loans

Written By Unknown on Thursday, May 2, 2013 | 3:42 AM


In any critical discussion of payday loans, you are likely to find a discussion of usury laws as well. Usury laws are legal restrictions place on lenders that prevent them from taking advantage of borrowers. As with all state legislation, usury laws will vary depending on the state you are in. In some states, laws have been implemented that effectively keep payday loan lenders from operating, while in others such laws have still allowed for these businesses to continue. Such laws have a long and important history not only in America but in the world, and have strong implications for the payday loan business.

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