usury

    Usury is loaning money at interest rates so high that they are illegal. The Old Testament forbids usury, and in medieval and early modern Europe, that was taken to mean, by Christians, that all money-lending for interest was forbidden. That is why Christians would borrow money from Jews, if they could arrange a deal. The Jews used the definition of usury in the Old Testament--interest could not amount to more than 50% ( half ) of the principal ( the amount borrowed ) over the life of the loan ( by the time it had all been paid back). These standards are actually very conservative--according to the 50% rule, all of our mortgages, and many of the rest of our loans and credit cards, would be forbidden as usury.