Usury Act 1660

The Usury Act 1660 is an Act of the Parliament of England (12 Car. II. c. 13) with the long title "An Act for restraining the taking of Excessive Usury".^[1] The purpose of the Act was to reduce the maximum interest rate from 8% (imposed in 1624 by 21 Jas. I, c. 17) to 6%. The legislation had been enacted in 1651 under the Commonwealth, but this Act was passed to confer legality on the measure following the Restoration of Charles II.^[2]

It was amended by the (13 Ann., c. 15), which further reduced the interest rate to 5%; the (3 & 4 Vict., c. 83); the (4 & 5 Vict., c. 54); the (6 & 7 Vict., c. 45); the (8 & 9 Vict., c. 102); and the (13 & 14 Vict., c. 56). It was repealed by section 1 of the (17 & 18 Vict., c. 90); the last Act is also known as .

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