Interest Rates and Usury Regulation Act

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Act No. 2655.: Interest Rates and Usury Regulation Act

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Title Source: Supreme Court: Interest Rates and Usury Regulation Act

Law: Act No. 2655.

Decision Date: Feb 24, 1916

The Philippine Jurisprudence case establishes maximum interest rates for loans and forbearance of money, goods, or credits, prohibits compound interest, allows for the recovery of excess interest paid, voids contracts with usurious interest rates, and imposes criminal prosecution and fines for violations.

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