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 Wisconsin, usury laws are codified under Chapter 138 of the Wisconsin Statutes, which governs the maximum interest rates that can be charged on loans. The legal rate of interest for any loan or forbearance of any money, goods, or things in action is 5% per annum, but parties can agree in writing to an interest rate of up to 12% per annum (Wis. Stat. § 138.04). Loans primarily for personal, family, or household purposes may be subject to additional limitations under the Wisconsin Consumer Act. For loans not governed by the Wisconsin Consumer Act, there is no specific usury limit, and the agreed-upon rate between the lender and borrower will generally be upheld unless it is unconscionable. The elements of a usury claim in Wisconsin include the existence of a loan agreement, 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 contingent or uncertain charges are typically not regarded as interest. It's important to note that certain types of loans, such as those made by licensed lenders or banks, may be exempt from state usury limits under specific circumstances.