On that last occasion, more than 65% of voters turned down an amendment that would have raised the interest-rate ceiling to 17%.
ECONOMIST: Usury laws: The bad side of town | The
In its latest incarnation, the interest-rate ceiling on consumer loans is restricted to 5% above the Federal Reserve's discount rate the amount the Fed charges banks for overnight loans.
There will be no ceiling on how much of this low-interest-rate money banks can borrow from the Bank of England.
BBC: Is cheap credit for small businesses the answer?
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