Payday Loan Cap Revisited

---

October 9, 2020 – Gene Grant and The Line panelists look at renewed efforts to lower the cap even further on interest rates for payday loans. There is also a push to make financial literacy classes a part of a high school education requirement. New Mexico’s current cap of 175 percent is the nation’s third-highest limit on the loans, which are often used by low-income earners and can result in a crippling debt spiral. 

Host: Gene Grant 

Line Panelists: 
Dan Foley, former state representative   
Inez Russell Gomez, editorial page editor, Santa Fe New Mexican   
Sophie Martin, attorney  

For More Information: 
Proposal Renews Debate on Payday Loans –  Albuquerque Journal