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13 Mar by admin

Proposition renews debate on payday advances. One other part of the Think brand new Mexico report relates to making economic literacy classes a requirement for twelfth grade graduates.

Proposition renews debate on payday advances. One other part of the Think brand new Mexico report relates to making economic literacy classes a requirement for twelfth grade graduates.
By Dan Boyd / Journal Capitol Bureau Chief
Sunday, October 4th, 2020 at 12:05am

Copyright В© 2020 Albuquerque Journal

SANTA FE – The debate over capping New Mexico rates of interest on storefront loans may well not be over yet.

36 months after state lawmakers authorized a bill that capped interest that is small-loan at 175per cent, a prominent Santa Fe-based think tank is proposing that the limit be lowered significantly – to 36% – and monetary literacy classes be produced a graduation need for senior high school students statewide.

Fred Nathan, executive manager of Think New Mexico, said the proposed modifications would allow state residents to better protect their individual funds.