Deleted user
posted 3 years ago
Are there any legal limits on US interest rates?
I recently watched an ad for Pay-Day-Loan that in the disclaimer specifically mentioned that they didn't provide their service in New York due to legal limits on interest rates. So I looked it up and found this page which suggests that while New York has a limit on interest charges of 16%, many other (majority) have a similar limit with many being 8-10%. Are there any actual legal limits on US interest rates?
  • United States
  • Banking and Financial

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