Predatory lending in New Mexico

http://joemonahansnewmexico.blogspot.com/

NM is one of the few states that doesn’t have an interest rate cap. Rates can go as high as 3,287% for a “tax refund anticipation loan”. Public policy that makes NM a loan shark Nirvana explains why predatory lending franchises outnumber all the Starbuck’s, McDonald’s and fast-food restaurants in our state combined…

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