Home passes bill shutting loopholes in little loans legislation
SANTA FE—The brand New Mexico House of Representatives passed a bill today cleaning state legislation that regulates storefront loan providers. HB 150 safeguards New Mexico borrowers and guarantees transparency and accountability when you look at the storefront financing industry.
“All New Mexicans deserve usage of fair and clear loans under reasonable terms, but unfortuitously, the law that is current loopholes that neglect to carry out of the legislature’s intent to guard borrowers, ” stated Lindsay Cutler, lawyer in the brand New Mexico focus on Law and Poverty. “HB 150 proposes […]
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