Usury

"It shall be usury and unlawful for any person, or for any agent, officer, or other representative of any person, to reserve, charge, or take for any loan, advance of money, line of credit, forbearance to enforce the collection of any sum of money, or other obligation a rate of interest greater than the equivalent of 18 percent per annum simple interest, either directly or indirectly, by way of commission for advances, discounts, or exchange, or by any contract, contrivance, or device whatever whereby the debtor is required or obligated to pay a sum of money greater than the actual principal sum received, together with interest at the rate of the equivalent of 18 percent per annum simple interest. This applies to loans up to $500,000. (West's F.S.A. § 687.03) For loans more than $500,000 in amount or value, the interest rate cannot exceed 25%. In addition, a lender, which makes or negotiates a usurious loan, may be guilty of loan-sharking, which provides for a variety of criminal penalties depending upon the amounts of interest charged and or taken. (West's F.S.A. § 687.071)

Any person, or any agent, officer, or other representative of any person, willfully violating theses provisions shall forfeit the entire interest so charged, or contracted to be charged or reserved, and only the actual principal sum of such usurious contract can be enforced in any court in this state, either at law or in equity; and when said usurious interest is taken or reserved, or has been paid, then and in that event the person who has taken or reserved, or has been paid, either directly or indirectly, such usurious interest shall forfeit to the party from whom such usurious interest has been reserved, taken, or exacted in any way double the amount of interest so reserved, taken, or exacted. (West's F.S.A. § 687.04) Attorney fees may be collected in cases brought before the court found to be reasonable and just for legal services rendered in enforcing nonusurious contracts, either at law or in equity. (West's F.S.A. § 687.06)"