Usury is lending money at aninterest ratethat is unreasonably high or higher than therate permitted by law.Usurylaws protect consumers by governing the interest charged on a loan. In the United States, individual states are responsible for setting usury laws. Though this type of financial activity...
However, payday lenders, like all lenders, must disclose the annual percentage rate the fee equates to before the borrower signs a loan agreement. A $100 payday loan with a $15 fee due in two weeks equates to an APR of 391%. The APR is the best apples-to-apples cost comparison tool...
Teleological thinking about money reasons from what money is for to both how it ought to be used and what forms it should take. One type, found in Aristotle’s argument against usury, takes teleological considerations alone to decisively settle normative
However, payday lenders, like all lenders, must disclose the annual percentage rate the fee equates to before the borrower signs a loan agreement. A $100 payday loan with a $15 fee due in two weeks equates to an APR of 391%.