/tags/storefront-lending storefront lending en-US Copyright Thu, 05 Jan 2023 23:04:13 GMT /local-news/2023-01-05/new-mexico-becomes-latest-state-to-cap-small-loan-interest-rates-at-36 New Mexicans in financial trouble who take out small loans from storefront lenders are now less likely to get trapped in a cycle of debt. 91°µÍř’s Nash Jones reports a law passed last year went into effect on Jan. 1 that drastically reduces the amount of interest these lenders can charge. Thu, 05 Jan 2023 23:04:13 GMT /local-news/2023-01-05/new-mexico-becomes-latest-state-to-cap-small-loan-interest-rates-at-36 Nash Jones /podcast/your-new-mexico-gover/2022-02-07/2022-session-ep-7-the-lenders-of-last-resort We have ten days left in this legislative session. This is the point where everything starts moving very quickly - almost frantically - so lawmakers can get to all of the bills they care about before time runs out. On today's #YNMG we’re going to focus on House Bill 132, a bill that would limit interest rates on storefront loans - you know, the kinds of loans given in strip malls that sometimes require a car title as collateral. They’re problematic for the way they tend to cluster in less affluent parts of town and for the exceptionally high interest rates that often keep borrowers trapped in a cycle of debt that’s difficult to escape. Tue, 08 Feb 2022 05:39:59 GMT /podcast/your-new-mexico-gover/2022-02-07/2022-session-ep-7-the-lenders-of-last-resort Kaveh Mowahed /local-news/2021-03-24/think-tank-cap-storefront-loan-rates-during-special-session Storefront lenders offering payday loans or title loans are a quick way to get money for people who are often in dire straits financially. And it can be a… Thu, 25 Mar 2021 02:00:15 GMT /local-news/2021-03-24/think-tank-cap-storefront-loan-rates-during-special-session Khalil Ekulona /kunm-news-update/2021-01-28/storefront-lending-caps-up-for-debate-at-roundhouse Small, fast loans often lead to a cycle of ever-deepening debt, according to the Consumer Financial Protection Bureau. Lawmakers in New Mexico are… Fri, 29 Jan 2021 04:10:59 GMT /kunm-news-update/2021-01-28/storefront-lending-caps-up-for-debate-at-roundhouse Khalil Ekulona /public-health-new-mexico/2016-02-18/state-to-study-storefront-loan-alternatives Lawmakers voted Wednesday to study a plan that would make small dollar loans available to state employees. At 26 percent interest, the loans would offer… Fri, 19 Feb 2016 01:03:04 GMT /public-health-new-mexico/2016-02-18/state-to-study-storefront-loan-alternatives Ed Williams /local-news/2016-01-27/storefront-lenders-succeed-in-squashing-rate-caps Storefront lenders scored a win in Santa Fe Tuesday when the House Business and Employment Committee unanimously sidelined an effort to cap interest rates… Wed, 27 Jan 2016 18:17:21 GMT /local-news/2016-01-27/storefront-lenders-succeed-in-squashing-rate-caps Anthony Herrera /public-health-new-mexico/2015-06-08/heinrich-and-udall-urge-storefront-lending-reform Senators Martin Heinrich and Tom Udall joined 28 other Democratic senators and two independents in sending a letter Friday to the director of the Consumer… Tue, 09 Jun 2015 01:03:40 GMT /public-health-new-mexico/2015-06-08/heinrich-and-udall-urge-storefront-lending-reform Ed Williams /public-health-new-mexico/2015-03-24/public-health-in-the-2015-session Psychiatric Meds In School—PASSEDIf parents refuse to give their child psychiatric medicine, the school can’t prevent the student from participating in… Wed, 25 Mar 2015 01:40:06 GMT /public-health-new-mexico/2015-03-24/public-health-in-the-2015-session Marisa Demarco, Ed Williams /local-news/2015-03-04/do-new-mexicans-need-protection-from-storefront-lenders 91°µÍř Call In Show 3/5 8a: Critics say short term loans trap New Mexicans in a cycle of poverty. Often borrowers end up paying more than the amount of the… Wed, 04 Mar 2015 17:34:25 GMT /local-news/2015-03-04/do-new-mexicans-need-protection-from-storefront-lenders /local-news/2015-02-20/lawmakers-blocking-loan-cap-got-industry-money Five of the six senators who opposed legislation to cap what lenders can charge borrowers on certain types of loans took thousands of dollars in campaign… Fri, 20 Feb 2015 15:21:09 GMT /local-news/2015-02-20/lawmakers-blocking-loan-cap-got-industry-money