Most states have usury laws (usually statutes) governing the amount of interest that can be charged on a loan. Usury laws vary from state to state, but the elements of a usury claim are generally: (1) a loan of money; (2) an absolute obligation to repay the principal; and (3) the exaction of a greater compensation than allowed by law for the use of the money by the borrower.

And interest means compensation for the use, forbearance, or detention of money. The term does not include time price differential, regardless of how it is denominated. The term does not include compensation or other amounts that are determined or stated by law not to constitute interest, or that are permitted to be contracted for, charged, or received in addition to interest in connection with an extension of credit.

Service charges, finance charges, and discount points are generally considered interest for purposes of usury. But contingent or uncertain charges are generally not considered interest.

In Idaho, usury laws are codified under Idaho Code §§ 28-22-101 through 28-22-109. These laws set the maximum legal interest rates that can be charged on loans. As of the current statutes, the legal rate of interest for money due on any contract is 12% per annum unless a different rate is contracted for in writing, in which case the rate of interest may not exceed the lawful rate of interest at the time the contract is made. The lawful rate can be up to 18% on commercial loans unless the amount exceeds $100,000, in which case there is no maximum interest rate. For consumer transactions, Idaho follows the provisions of the federal Truth in Lending Act. The elements of a usury claim in Idaho include the existence of a loan of money, an absolute obligation to repay the principal, and the charging of an interest rate exceeding the maximum allowed by law. Charges that are considered interest include service charges, finance charges, and discount points, but do not include contingent or uncertain charges. It's important to note that certain types of loans, such as those made by licensed lenders, may be exempt from these restrictions.