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Storefront Lending Caps Up For Debate At Roundhouse

4:45 Small, fast loans often lead to a cycle of ever-deepening debt, according to the Consumer Financial Protection Bureau. Lawmakers in New Mexico are considering whether to regulate the industry here further during the 2021 legislative session. Senate Bill 66 would cap the rates and fees so that theyre in line with national averages with the aim of helping people in jeopardy avoid a pit of debt they cant climb out of. KUNM caught up with reporter Jeff Proctor to talk about the effort. JEFF P...
New Mexico United States Santa Fe County Gary King Jeff Proctor Consumer Financial Protection Bureau
Source: kunm.org

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