Usury: n. charging more than 10% on a loan and being guilty of extortion
Usury must have a numerical percentage limit on it or the word usury has no meaning and should be terminated as a word.
Sure, you can say that a potential customer has a risk factor greater than 10% so it makes sense to lend money at more than 10% interest. Yes, but what if the customer risk is 90% then should you lend him or her money at 90% interest? The answer is definitely no and if the risk factor is greater than 10% then no loan should be made to that customer by law!!!!!!
Whether the loan is for a day, a week, a month, or a year, more than 10% is a usurious rate and should be forbidden by law!!! Most credit card companies are usurious enterprises and should be regulated severely by the government to no more than 10% on a credit loan! That is true justice and not the sky is the limit philosophy on usurious rates of return!!!!!!
If you charge more than 10% on a loan then you are a loan shark and should be fined and/or imprisoned accordingly!!! You are guilty of extortion or taking advantage of or injuring the financially desperate!
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