A loan that is usurious at its inception is void and unenforceable, but an obligation that is valid at its inception is not invalidated by a subsequent usurious transaction. The invalidity of the final modification does not extinguish the borrower's liability under the original contract and cannot taint the original agreement, regardless of whether the usury is criminal or civil, A one-year statute of limitations is applicable to usury actions, pursuant to CPLR 215[6].
Welz v. Brown, NY Slip Op 03021 (1st Dep't June 4, 2024)
