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Albuquerque Journal. Lawmakers push for interest-rate cap on payday, name loans

Albuquerque Journal. Lawmakers push for interest-rate cap on payday, name loans

By Susan Montoya Bryan / Associated Press

ALBUQUERQUE, N.M. — Bright signs, a lot of them neon that is flashing lure passers-by along historic Route 66 with promises of quick money if they’re in a bind. Window dressings in strip malls, converted gasoline stations as well as other storefronts in brand brand brand New Mexico’s city that is largest inform would-be customers they won’t need to “pay the max.”

The payday and name loan industry claims that despite a reputation that is negative little loan providers provide mostly of the alternatives for low-income residents in brand brand New Mexico, where high poverty and jobless prices are chronic. Continue reading Albuquerque Journal. Lawmakers push for interest-rate cap on payday, name loans