Quotes About Usury laws

States used to protect consumers from predatory lenders, but strong state usury laws were obliterated by a 1978 U.S. Supreme Court decision.

Back then, being a pawnbroker-merchant was one of the only career options available to Jews. Thanks to a papal decree centuries earlier, usury laws forbade Christians from lending for profit. So Jews took over the moneylending trades, becoming pawnbrokers, small trade merchants, and wizards of finance.

Putting an end to usurious rates is not going to be as simple as asking banks to lay down internal guidelines, policies and procedures.