In another thread Link said:
I am not well versed in U.S. tax laws but it is my understanding that even in the U.S.anyone making loans on which interest is charged is considered to be operating a taxable business.
In the U.K. the Societies loans are interest free but they take control of the building once the loan has been completely repaid. This way they retain the cash without paying any tax.
Does anyone know enough about US tax laws to comment on this? Could what is happening in France happen in America too?