What do usury laws regulate?

Usury laws specifically regulate the maximum interest rates that lenders are permitted to charge borrowers. These laws are designed to protect consumers from excessively high-interest rates that can lead to unmanageable debt. By capping the interest rates, usury laws ensure that borrowing remains fair and accessible, preventing predatory lending practices that can exploit vulnerable individuals or communities.

While the other options involve aspects of lending, they do not pertain directly to the primary purpose of usury laws. For instance, the types of loans available to borrowers are influenced by market demand and lender policies rather than usury statutes. Similarly, the terms of mortgage contracts and the loan approval processes are dictated by broader regulations, credit assessment criteria, and the individual policies of lenders, rather than by usury laws specifically.