What an illegally high interest rate charge is called on a loan.
The rate of interest is unconscionable or exorbitant. These rates are generally limited in most jurisdiction courts in regards to the interest incurred by a lender who is suing for the recovery of the loaned sum. In a case of unjust enrichment, the interest may even be forfeited. Some laws in regards to the term have been rescinded and enforced with the interest rates dictated by forces of a competitive nature in the open fiscal markets. | |
