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Famously, medieval Christianity placed a prohibition on usury, the charging of punitive interest on loans.
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This is one reason why the Bank of England insisted on charging Northern Rock a punitive rate of interest on its loan, thought to be about 7%.
Avoiding store cards – which often charge punitive rates of interest – and keeping on track of your finances with a strict budget are also essential.
This meant Greece was pushed into sharp, depression-inducing austerity (Germany initially insisted on charging punitive interest rates).
Though most buyers are unaware of the practice, Fannie and Freddie — by far the largest sources of mortgage money in the country — continue to charge punitive, recession-era fees that can add thousands of dollars to consumers' financing costs.
If American laws violate the terms of a deal, the U.S. can be charged punitive tariffs that harm domestic industry.
Douglas Clifton, the editor of The Plain Dealer, said that the mayor's behavior was "disappointing" and that the newspaper was deciding whether to sue the city for punitive damages, charging violation of its civil rights.
At the beginning of the crisis, Greece's European creditors eschewed debt relief and charged punitive interest rates on bailout funds.
This week both houses of Congress voted through a bill that would sharply curtail card issuers' ability to charge punitive fees and raise interest rates.
There the company is accused of violating a commercial bribery statute under which it could be forced to disgorge all the fees it charged and pay punitive damages.
But some $17 million consisted of punitive damages.
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CEO of Professional Science Editing for Scientists @ prosciediting.com