Currently, interest rates in the United States are understood to be very low. With that in mind, if a new usury law came into effect limiting interest rates to below 50%, would it have an effect?
Usury laws are regulations governing the amount of interest that can be charged on a loan.
Usury laws specifically target the practice of charging excessively high rates on loans by setting caps on the maximum amount of interest that can be levied. These laws are designed to protect consumers.
Given that the current interest rate in the US hovers around 2-3 % ( most recent interest rate is 1.75 % ), it is highly unlikely that the interest rate may ever breach the level of 50% so as to be regulated at 50% by a new usury law.
Therefore, we can say that in general circumstances it would not have any effect.
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