Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 25 - Indians |
Chapter I - Bureau of Indian Affairs, Department of the Interior |
SubChapter G - Financial Activities |
Part 141 - Business Practices on the Navajo, Hopi and Zuni Reservations |
Subpart E - Consumer Credit Transactions Other Than Pawn |
§ 141.49 - Usury prohibited.
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§ 141.49 Usury prohibited.
No reservation business may take or receive money, goods, or other things of value for a loan or forbearance on a debt that exceeds in value the principal plus twenty-four percent (24 percent) per annum finance charge. Any reservation business contracting for, reserving, or receiving directly or indirectly, any greater amount shall forfeit the finance charge.