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 вЂ“ 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 вЂ“ to 36% вЂ“ 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.