Usurious

{
  "id": "MLC-T-LAW-005119",
  "term": "Usurious",
  "field": "Law",
  "definition": "Describing a loan or interest rate that exceeds the maximum legal limit permitted by state law. Such rates are considered excessive and exploitative, often leading to legal challenges to the enforceability of the loan agreement. State usury laws vary widely, with some states having no cap on interest rates for certain types of loans.",
  "url": "https://mlchart.com/terminology/law/usurious/"
}