Which of the following is true of usury laws?
A) They limit the rate of interest that may be charged for the use of money.
B) They prohibit certain businesses and professions from operating without a license.
C) They charge violators a penalty that is universal across all states.
D) They restrict the sale of prohibited articles within a state.

Question

Quizplus · Accepted Answer

Usury laws are designed to protect borrowers from excessively high interest rates by setting a maximum legal interest rate that lenders can charge.

Which of the Following Is True of Usury Laws