Please double check before assuming that the debtor’s state usury laws apply. Recent court rulings have disallowed Arkansas laws from being applied to debtors in their state and allowed national banks to charge the interest rates allowed in their own home state on Credit Cards. The information in the links below was believed to be accurate at the time this page was written but important cases where a lot of money or large number of accounts is involved, please double check with the appropriate state agency or an attorney.
ARIZONA, the legal rate of interest is 10%.
COLORADO, the legal rate of interest is 8%; the general usury limit is 45%. The maximum rate to consumers is 12% per annum.
NEW MEXICO, the legal rate of interest is 15%. Judgment rate is fixed by the Court.
NEW YORK, the legal rate of interest is 9%; the general usury limit is 16%.