Sentence examples for usury rate from inspiring English sources
So, in September, when the treasury ministry announced average rates for house mortgages of 6.6%, the usury rate for such loans was automatically set at 9.9%, a rate far below the going rates in the early 1990s, and hence below the rates on fixed-rate mortgages entered into (legally) at that time.The appeal court's decision has understandably upset the banks.
A fair interest rate and a patient investor is far better than a usury rate and a short term loan with a big balloon payment.
"I think we need a national usury rate and what we are proposing is to do for the private financial institutions what has existed for credit unions for some 30 years, and that is 15percentt max, under certain circumstances it can go higher.
Hedge funds have been lumped with payday lenders that charge usury rates.
The existing set-up, he says, takes advantage of people who have to sell, forcing them to pay "usury rates" as a result of uneven access to market data.
Haiti did not finish its war reparation payments until 1947, and in order to pay the debt Haiti had to borrow tremendous sums of money from American, French and German banks at almost usury rates.
The first point is to stop usury — exploitative interest rates — it's enslaving.
As a devout Muslim, he may also be uncomfortable with usury; he says a rate of zero is the ideal.
Aristotle argued that an inert commodity like silver, which did not bear fruit, should not carry interest.The concept of usury (an excessive interest rate) was developed by the Catholic Church, although the parable of the talents implies that money should be set to work.
Why can't we simply have a national ban on usury, a maximum interest rate for all loans?
President Obama and Democrats (one would hope a number of Republicans, too) should join together to say to the bankrupters what the first President Bush did to Saddam Hussein after the invasion of Kuwait: "This will not stand!" Let us insist that laws be enacted that establish a federal usury standard at a reasonable rate and that such rates be made retroactive for all credit card accounts.
