Payday Loan Times

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New Mexico A.G. Proposes Strict Payday Loan Regulations

Filed under: New Mexico — John Mitsuda at 12:17 pm on Thursday, October 13, 2005

Clovis, NM — The New Mexico attorney general's office is concerned about the lending practices of payday loan companies and is proposing stricter regulations.

The office hosted a meeting on Wednesday at the Clovis-Carver Public Library to discuss proposed regulations. These regulations included eliminating 14 or 30 day loans and a cap on interest (set to 54%) and services.

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Pingback by Payday Loan Times » Blog Archive » New Mexico Governor Adamant About Payday Advance Lending Legislation

Friday, April 21, 2006 @ 12:27 pm

[...] Lopez said details of the regulations have not been worked out. Initially, the proposals will be published for public comment and then the agency will adopt and implement final loan regulations. [...]

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