What do usury laws govern in New York State?

Usury laws in New York State specifically govern the maximum allowable interest rates on loans. These laws are designed to protect borrowers from excessively high-interest rates and ensure a degree of fairness in lending practices. By setting limits on interest rates, usury laws help maintain a balanced marketplace, preventing lenders from exploiting borrowers through unreasonably high charges. In New York, the usury laws apply to various types of loans, including personal loans and some forms of commercial loans, ensuring that consumers have legal protections in place.

The other options do not accurately reflect the focus of usury laws. Property taxes relate to the taxation of real estate, dispute resolution pertains to how conflicts in real estate transactions are handled, and transferability of mortgages deals with the ability to sell or transfer mortgage obligations.