Blog Bite: When is the interest rate so high that it is usury in New York State?

This article United States: Don’t Get Used By Usury Laws discusses the trap of violating New York States criminal usury laws. Drafters of promissory notes and loans should be aware of possible usury laws in the applicable jurisdiction.

Certain articles within this post were linked and referenced with the permission of, through our exciting content collaboration with them. To access Mondaq’s large database of articles written by top law firm lawyers from around the world, you must leave our site and create a free account on theirs.

Written by Chris.