If a person or corporation contracts in the District,
(1) verbally, to pay a greater rate of interest than 6% per annum, or
(2) in writing, to pay a greater rate than is permitted under section 28-3301, 28-3308, under Chapter 36 of this subtitle, or under § 26-301 et seq., the creditor shall forfeit the whole of the interest so contracted to be received.
This section does not affect sections 26-901 to 26-912 .
(Aug. 30, 1964, 78 Stat. 675, Pub. L. 88-509, § 1; Dec. 17, 1971, 85 Stat. 665, Pub. L. 92-200, § 2; May 12, 1998, D.C. Law 12-111, § 25(a), 45 DCR 1782.)
1981 Ed., § 28-3303.
1973 Ed., § 28-3303.
Institutions of higher education, pleading usury as a defense, see § 28-3315.
Pawnbrokers, excessive consideration prohibited, see § 47-2884.10.
Sections 26-901 to 26-912, referred to in the last paragraph of this section, refer to the Act of Feb. 4, 1913, as amended, and as translated to the 2001 edition. D.C. Law 18-378 amended and enacted into law Title 29.
Structure District of Columbia Code
Title 28 - Commercial Instruments and Transactions. [Enacted title]
Chapter 33 - Interest and Usury
§ 28–3301. Rate of interest expressed in contract
§ 28–3302. Rate of interest not expressed and on judgments
§ 28–3304. Action to recover usury paid
§ 28–3305. Unlawful interest credited on principal debt
§ 28–3306. Parties compelled to testify
§ 28–3307. Council of the District of Columbia authorized to exempt certain mortgages and loans
§ 28–3308. Finance charge on direct installment loans
§ 28–3310. Consumer protections
§ 28–3311. Definition of interest
§ 28–3315. Exemption of institutions of higher learning from usury law