What is usury?

Usury is a type of banking law typically found in Kansas and other states. It has to do with the amount of interest charged on a loan. Usury laws are created to limit the amount of interest a creditor can charge on a loan or other form of credit. Generally, Kansas Usury Laws have set maximum interest rates for different types of loans. For example, consumer loans, such as those for credit cards, are generally capped at around 12%. If a creditor goes over this rate and charges a larger interest rate, then the debtor can take legal action against them for violating usury laws. Usury laws help protect people from being taken advantage of by creditors who charge extremely high interest rates. Usury laws also ensure that creditors are not profiting too much from borrowers, which helps keep the economy stable.

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What is usury?

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