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Gov., Legislature should act on high-interest loans

OPINION | Capping rates at 36% will help end cruel cycle of debt in NM ....

New Mexico , United States , New Mexicans , Gregg Schmedes , Patricia Caballero , Michelle Lujan Grisham , Lujan Grisham , Katy Duhigg , Kathleen Sabo , Michelle Lujan , Senate Bill , Mexico Ethics Watch , Big Interest , Democrats Bill Soules , Republican Gregg Schmedes , Democrat Patricia , New Mexico Ethics Watch , Native Americans , Small Loans ,

The governor and the Legislature should not ignore high-interest loans

In the first week of the 2022 Legislature, lawmakers introduced several bills that would lower New Mexico's unconscionable 175% interest rate cap on small loans to 36%. But the Legislature won't even be able to discuss such measures in the current 30-day session without an official "message" from Gov. Michelle Lujan Grisham. ....

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