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View Diary: "Cooking attracts roaches." (137 comments)

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  •  So true. There's an interesting history (4+ / 0-)
    Recommended by:
    high uintas, elginblt, David54, roseeriter

    ... to the way the usury laws were eliminated - or almost eliminated. It used to be that credit cards could not be offered across state lines. Some states had very strict usury laws, and others had laws that were more lax. When the law preventing cross-border card offers was eliminated, all the credit card companies moved their operations to Delaware, which had no usury laws at all.

    Some states still have usury laws, but they're basically a joke, because most lenders are national or multi-national in scope, and don't have to skirt those laws by being careful in their choice of location for incorporation.

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