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Usury or interest on loans

  1. Sep 21, 2004 #1
    Could someone explain to me what is the deal with the usury or interest on loans stuff?Some people claim that it is immoral to claim usury(interests)on loans, while others have no problem with that.
    If we had no usury in our day to day banking in what way would our lives and economy be different?
  2. jcsd
  3. Sep 21, 2004 #2
    If I understood what an usury is I would answer but I don't. Sorry.

    The Bob (2004 ©)
  4. Sep 21, 2004 #3
    From my understanding:

    Usury is excessive interest on a loan. ie, companies are only allowed (by law) to charge so much interest on a loan otherwise it constitutes usury, which is illegal.
  5. Sep 21, 2004 #4


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    Usury originally meant ANY interest on loans; both the Jewish and Christian scripture advise making loans with no interest. Later loopholes were found, and usury came to be defined as excessive interest, with the excessivity to be determined by statute.
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