Final answer:
Usury laws are state regulations that set the maximum interest rate that lenders can charge for loans.
Step-by-step explanation:
Usury laws are state regulations that specify the maximum rate of interest that may be charged for various types of loans. These laws are meant to protect borrowers from excessive interest rates and ensure fair lending practices. For example, if a state has a usury law that sets the maximum interest rate at 10%, lenders cannot charge more than that percentage for loans in that state.