No but you seem to be getting them confused. The Kramers loans are made at a rate above the 25% criminal usuary limit. And they charge a $2,000 a day late fee which is $730,000 a year on a $42,000 loan.

What don't you understand about it. The loans made by the Kramers are a crime in New York, a felony. That makes them illegal too.

http://debanked.com/2015/09/court-finds-usuri...forceable/

http://codes.findlaw.com/ny/penal-law/pen-sect-190-42.html