Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance Usury limits
Thread Options
#1511436 - 02/17/11 05:20 PM Usury limits
nbk2yj2 Offline
Platinum Poster
Joined: Aug 2006
Posts: 629
Paradise!
Is the usuary limit for any given state the simple interest rate or does it appy to the APR?

If i have a loan at an acceptible rate but because of finance charges effecting the APR i am now above the usury limit. What is it based on, stated rate or APR?

Return to Top
Lending Compliance
#1511445 - 02/17/11 05:26 PM Re: Usury limits nbk2yj2
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#1511454 - 02/17/11 05:33 PM Re: Usury limits Dan Persfull
nbk2yj2 Offline
Platinum Poster
Joined: Aug 2006
Posts: 629
Paradise!
Would you happen to know what it is for Florida?

Return to Top
#1511520 - 02/17/11 06:52 PM Re: Usury limits nbk2yj2
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
Nope, we don't do business in FL.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top

Moderator:  Andy_Z