What is usury?


Usury is the charging of excessive interest rates. The default maximum interest rates are 10% with a written contract, and 6% without a contract, pursuant to Article 16, Sec. 11 of the Texas Constitution. Other Texas statutes govern maximum interest rates for financial institutions, mortgage companies, etc.


  1. No comments yet.
(will not be published)
Subscribe to comments feed
  1. No trackbacks yet.