Finance
What is 'usury' in the context of Rhode Island mortgage lending?
AThe use of a property for commercial purposes
BCharging an interest rate that exceeds the maximum rate permitted by law✓ Correct
CThe lender's origination fee
DUsing a property as collateral for multiple loans simultaneously
Explanation
Usury is the practice of charging interest rates above the legal maximum. Rhode Island has usury laws limiting interest rates on certain types of loans. Violations can void the interest obligation and subject the lender to penalties.
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