No loan written or enforced in the United States can have an interest rate higher than 10% per annum.
Why is this important?
We could payday loans, car title loans and outrageous credit card fees by limiting interest to 10%. It's interesting that when debtor countries in Europe had their loans at 7% interest the loans refinanced because at 7% interest it was considered unrealistic that the loans would ever be repaid. So why are we paying 20% or more on credit card balances?
