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Predatory lenders crowd out borrowers in NM debate
Lawmakers focus on lenders not borrowers as storefront predatory loans cap is debated. A bill to limit rates to 36 percent stalls amid industry lobbying. five of six senators voting against the measure received campaign contributions totaling over 115000 dollars in 2013 2014. A house memorial proposes a task force to study protections and rates while critics urge stronger limits.
MENTIONED IN THIS ARTICLE
Steve Fischmann
Senate Corporations and Transportation Committee
U.S. Department of Defense
New Mexico
Clemente Sanchez
D-Grants
Tennessee Ernie Ford
House Regulatory and Public Affairs Committee
House
Patricia Lundstrom
Gallup