In 1545 England fixed a legal maximum interest, and any amount in excess of the maximum was usury. The practice of setting a legal maximum on interest rates later was followed by most states of the United States and most other Western nations.

How did usury begin?

Usury first became common in England under King Henry VIII and originally pertained to charging any amount of interest on loaned funds. Over time it evolved to mean charging excess interest, but in some religions and parts of the world charging any interest is considered illegal.

When did usury stop being a sin?

The taking of interest was forbidden to clerics from AD 314. It was strictly forbidden for laymen in 1179. The beginning of the end as far as the total ban on interest was concerned came in the sixteenth century.