Interest in excess of a legal rate charged to a borrower for the use of money.
Refers to the illegal practice of charging interest on a loan above the maximum rate allowed by statute.
The charging of more for the use of money than the legal rate of interest. A number of states have laws which limit the interest rate that can be charged to individuals borrowing money in that state. These laws affect all lenders in a state regardless of what federal or state agency issued their charter. It should be noted that if there is a national economic emergency the federal government may temporarily suspend state usury laws.
Charging an illegal rate of interest; unlawful interest in excess of the rate established by law.
Charging an interest rate greater than that permitted by law.
The interest charged on a loan. Forbidden by medieval Christian church law (based upon an interpretation of the Bible), and also for some Moslems. This led to the growing importance of Jews as money lenders to all including the State. Later, the resulting debts owed to such Jews, when deliberately highlighted for political reasons, probably contributed much to the widespread hostility to and the subsequent massacres of whole Jewish communities. The medieval Knights Templar were given special dispensation from law against usury. As a result they became very wealthy during the crusades, effectively forming themselves into an international financial organization. The order was later suppressed, notably by the King of France who seized its wealth. To Index.
Old term for the principle of monetary interest, which is prohibited or limited under certain conditions in the scriptures of Judaism, Christianity and Islam.
Charging interest at a rate greater than that permitted by law.
Charging a higher rate of interest than allowed by law.
Charging interest in excess of the maxi- mum legal rate.
The act of charging an illegal rate of interest.
Claiming an interest rate that is higher than legally allowed.If you are in interested in financing some foreclosed home properties, you should be careful of lenders who want to charge too–high interest rates.Always check with several lenders to find the best rate possible.
The taking of more for the use of money than the law allows.
Charging an unfair amount for a loan. The lender, sometimes called a loan shark , gets the extra money by charging a very high interest rate.
an exorbitant or unlawful rate of interest
the act of lending money at an exorbitant rate of interest
Charging interest rates in excess of the statutory allowed maximums.
Laws governing the rate of interest which can be charged to a borrower, and setting forth civil and criminal penalties for violations of these laws. Usury laws differ from state to state.
Interest charged in excess of the legal rate (60% per annum) allowed under the Criminal Code.
Charging more interest than is permitted by law for a loan of money.
The practice of lending funds at a rate that is illegal. A general rule, usury is when the cost of funds exceed 5% of the federal district's cost of funds at the time the loan was made.
The charge of illegal interest.
Interest paid or accepted in excess of that permitted by state law.
A reference to illegally excessive interest charged on any loan.
A rate of interest on a loan which is greater than the law allows.
Lenders charging an interest rate that exceeds the legal limit for those circumstances.
Charging interest on a mortgage or other loan higher than is allowed by law.
The charging of more interest than is allowed by law. In California, the maximum rate is 10%, except for certain lenders that are exempt from the usury laws.
In Arabic the word is riba, which is haram whatever form it takes. It is a falsification of value, taking something for nothing, an unjustifiable increment of profit. It encompasses taking interest, deception, fraud, which means paper money.
Extraction of interest on a loan above the maximum rate permitted by statute.
An interest rate charged on a loan that exceeds the legal maximum interest rate within the state. It is illegal to do so. The maximum interest rate may depend on the type of lender and nature of the loan. Federal laws may also apply.
literally increase ; in general, any unjustified increase accruing to one party to a sale; more specifically, disparity in any exchange of usurious foodstuffs or gold and silver, either by way of a difference in weight or a delay in delivery of these commodities, when one of these commodities is exchanged for the same commodity.
Charging a rate, or amount, of interest that is greater than permitted by law.
Charging interest in excess of the maximum rate as set by law.
The illegal act of charging extremely high interest rates on a loan.
Charging interest at a higher rate than the maximum rate established by state law.
Any premium, profit, bonus, fee, or charge which is demanded, required, or exacted by a lender in excess of legal interest on money loaned. Home | Who We Are | Title Insurance | Top of Terminology | Order Sheet | Premium Calculator | Closing Fees | SecurWest | Local Links | Contact Us Security Title Company of Montana 600 South 19th Avenue Bozeman, MT 59718 VARIABLE INTEREST RATE: An interest rate that fluctuates with the current cost of money, subject to adjustment if the prevailing rate moves up or down.
Charging an interest rate greater than the rate permitted by law.
The lending of money at a rate of interest above the legal rate.
Charging more than the maximum legally allowable rate of interest.
The interest charged on a loan. Forbidden by church law (based upon biblical). Commonly used by Knight Hospitallers and Knight Templars in later medieval times. (MEDIEV-L. Medieval Terms)
Interest charged on a loan; a practice forbidden by Church law.
Charging more than the legal limit on interest for a loan.
Accepting more than the legal rate of interest in the applicable jurisdiction.
The charge of a greater rate of interest for the loan of money than is permitted by law.
Charging an interest rate higher than that allowed by law.
Charging more for the use of money than allowed by law.
Interest which exceeds the legal rate charged to a borrower for the use of money.
Charging a higher rate of interest than the law allows.
Charging a rate of interest in excess of that permitted by law. VACANCY FACTOR - An allowance or discount for estimated vacancies (unrented units) in a rental project. The vacancy rate is the ratio between the number of vacant units and the total number of units in a specified project or area.
The act of charging borrowers a rate of interest greater than that permitted by law.
Interest charged in excess of the legal rate established by law.
Charging more than the rate of interest allowed by law.
Interest charges that are higher than allowed by law. VA (Department of Veterans Affairs) A U.S. federal agency that guarantees loans made to veterans; similar to mortgage insurance, a loan guarantee protects lenders against loss that may result from a borrower default.
On a loan, claiming a rate of interest greater than that permitted by law.
Charging more than the maximum legally permitted rate of interest. There is no usury limit for loans secured by a first trust.
Interest charged which is greater than that allowed by law.
Excessive and illegal interest charged on a loan.
The act of lending money at an interest rate higher than that permitted by law.
An interest rate charged by a lender that is more than the maximum amount allowed by law.
Excessive or illegal interest rate. Most countries now prohibit interest rates above a certain level; and rates which exceed these levels are called "usury".
Usury (//, from the Medieval Latin usuria, "interest" or "excessive interest", from Latin usura "interest") was defined originally as charging a fee for the use of money. This usually meant interest on loans, although charging a fee for changing money (as at a bureau de change) is included in the original meaning. After moderate-interest loans became an accepted part of the business world in the early modern age, the word has come to refer to the charging of unreasonable or relatively high rates of interest.