Thursday, October 13, 2005

New Mexico A.G. Proposes Strict Payday Loan Regulations

By John Mitsuda
Payday Loan Writer

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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This entry was posted on Thursday, October 13th, 2005 at 12:17 pm and is filed under New Mexico.

One Response to “New Mexico A.G. Proposes Strict Payday Loan Regulations”

  1. Payday Loan Times » Blog Archive » New Mexico Governor Adamant About Payday Advance Lending Legislation Says:
    April 21st, 2006 at 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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