Moneylenders and Usurers

Usury is the act of lending money at an interest rate that is considered unreasonably high or that is higher than the rate permitted by law. Judaism, Christianity, and Islam (the three Abrahamic faiths) take a very strong stance against usury. Several passages in the Old Testament condemn the practice of usury, especially when lending to less wealthy individuals. In the Jewish community, this created the rule of lending money at interest only to outsiders. The Old Testament’s condemnation of usury also led to the Christian tradition against moneylending. In the Middle Ages, since Jews were prohibited from owning land or being part of a guild, out of necessity Jews became moneylenders or usurers, or tax and rent collectors. Jews become associated with money and are characterized as greedy or cheap. 

Jewish moneylenders, as depicted in a 15th century Spanish illustration