The alien is protected from the abuse of usury (the charging of interest for charitable aid, as distinguished from modern consumer or business loans).
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Originally designed to target loan sharks charging exorbitant interest rates, the use of usury laws have since expanded to encompass a wider variety of transactions.
There was a great deal of controversy in the Islamic world on this issue as recently as the 1980s, with some prominent Islamic scholars claiming that there was in fact no complete prohibition of interest, only a prohibition of usury, or excessive, unfair interest.
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Nineteen states prohibit pay-day lending outright, usually as the result of longstanding usury laws.
Yet even with the tax break, Texarkana, Arkansas, still cannot compete with Texas because of the usury law.
Little South Dakota agreed to get rid of its usury laws, and Citibank, by exploiting a loophole in federal law, set up its card operations there and was able to evade usury laws throughout the nation.
Banking developed in Florence because of the ingenious development of bills of exchange, first as a way of paying debts without having to transport cash, then as a means of evading the church's usury laws, and finally as a means of extending credit.
Compare a contractum trinius to a murabaha contract, a structured financial product offered by Islamic banks as a way around the Koran's proscription of riba, or usury.
What it does demand is honesty, fair weights and measures, respect for a borrower's collateral, timely payments of wages, resisting usury, and empathy for those injured by life's misfortunes and charity.
Further, the California usury law is one of the strictest of its kind in the nation, with any annual interest rate exceeding 10% deemed usurious.
Usury laws restricted the availability of credit to those who needed it most.
How does one put that kind of money to work without breaking the rule on usury, given how ubiquitous interest is?
Many of those victims sought to dismiss the double-damage usury count on various grounds.
To be sure, from the Bible to Buddhism, most of the world's faiths have issued warnings against usury, and theologians through the ages have debated the line between permissible and excessive interest rates.
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