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The Bible condems usury - the payment of interest on loans.
Usury laws are laws that limit necssive on interest rates
John A. Bolles has written: '\\' -- subject(s): Accessible book, Dorr Rebellion, 1842, Politics and government 'A treatise on usury and usury laws' -- subject(s): Usury, Usury laws
Nevada has no usury limit (except with respect to pawn brokers)
A system of promotion, stimulation and protection of the organised usury, money changing and financial gambling of any kind by means of transferring all the risks to the borrowers and the taxpayers on the grounds of the inability of the latter to understand what is really going on.
Allison Thompson Folsom has written: 'A summary of usury laws and decisions / by A. T. Folsom' -- subject(s): Usury, Usury laws
Usury law put a ceiling on interest rate
Usury (riba in Arabic) is condemned and prohibited in the strongest terms in Quran. It is explicitly forbidden in Quran. Quran says (meaning translation): " Those who usury will not stand except as stands one whom the Satan by his touch has driven to madness. That is because they say trade is like usury, but God (ALLAH) has permitted trade and forbidden usury.... God (ALLAH) will deprive Usury of all blessing but will give increase for deeds of charity...".So, Muslims do not do Usury (Riba):first as obedience to God commands, andsecond because by usury you exploit the need of others to money and instead of helping them by charity or giving loan at no profit you gain more money out of them.
There is still usury in some villages. It means lending money at high interest rates.
In Florida, the general usury limit is 18%. On loans above $ 500,000 the maximum rate is 25%