• Legal

    Laws Regulating Types Of Loans And Money Lending Deals With The Mixed Motives

    Law and legal definition both are complicated and there is a lot of meaning in between the lines. Most people do not understand it and therefore find them in the vicious cycle of debt. Moreover, loans and money lending laws can vary from one state to another though the primary objective of the framing and enforcing such laws are in accordance to that of the federal government. There may be a few states that will restrict the money lenders to provide money to borrowers at an interest rate that is in excess of the set statutory maximum. This is called the “usury limit.” On the other hand, banks may have…