Usury is charging interest. I knew that when I was nine. The dictionary has modified it recently - to state that it must not be 'unreasonably high' interest. Tricksy, because who defines what amount is unreasonable? It is a squishy definition.
I argue that credit cards, that often top 20% interest, are userous.
My grandfather was very religious. He stuck to the maxim: "Neither a borrower, nor a lender be; For loan oft loses both itself and friend." - just to avoid usury.
'here'
Usury is charging interest. I knew that when I was nine. The dictionary has modified it recently - to state that it must not be 'unreasonably high' interest. Tricksy, because who defines what amount is unreasonable? It is a squishy definition.
I argue that credit cards, that often top 20% interest, are userous.
I always understood it as charging interest on interest, as in interest on money you didn't actually lend.
My grandfather was very religious. He stuck to the maxim: "Neither a borrower, nor a lender be; For loan oft loses both itself and friend." - just to avoid usury.
Excellent notion.