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 Oregon, usury laws are codified under ORS 82.010, which sets the legal limits on the amount of interest that can be charged on a loan. The maximum interest rate that can be charged in Oregon is generally 12% per annum unless otherwise specifically allowed by law. Certain loans, such as those made by licensed lenders, loans secured by real estate, or business loans over a certain amount, may have different interest rate limits or exemptions from the general usury statute. The elements of a usury claim in Oregon include: (1) the existence of a loan of money; (2) an absolute obligation to repay the principal amount; and (3) the charging of an interest rate exceeding the maximum rate permitted by law. In Oregon, interest is considered compensation for the use, forbearance, or detention of money. Charges that are not considered interest include time price differentials and legally permitted additional charges in connection with an extension of credit. Service charges, finance charges, and discount points are typically treated as interest for the purpose of determining usury. However, contingent or uncertain charges do not usually qualify as interest under usury laws.