Definition of usury in English:
1The illegal action or practice of lending money at unreasonably high rates of interest.
- They also practised usury, charging an interest rate of 5 per cent a day.
- He was litigious, speculated cannily on the property market, hoarded grain in times of shortage and may have practised usury.
- But where do you draw the line between this kind of usury and legitimate lending?
1.1 archaic Interest at unreasonably high rates.
- Deuteronomy states, ‘To a stranger you may lend upon usury: but to your brother you may not lend on usury.’
- Of course that had to be paid, but when the amount of interest becomes usury, that is not fair, that is not just, and that's the actual situation.
- Any moneys still due us under the old standard terms of twenty percent usury will be reduced to ten percent usury as a matter of good will.