Usury claimed in Ivy League suit
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Harvard, Yale and Princeton universities’ endowments are being accused of backing a loan with 42% interest, twice the legal limit, according to a lawsuit filed by a developer who borrowed the money.
The three Ivy League schools, along with three other universities and two foundations, are named in a civil complaint in state court in Boston alleging they violated a law aimed in part at loan sharks, who make loans with excessive interest rates backed by threats of violence.
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