interest rates

New Mexicans in financial trouble who take out small loans from storefront lenders are now less likely to get trapped in a cycle of debt. KUNM’s Nash Jones reports a law passed last year went into effect on Jan. 1 that drastically reduces the amount of interest these lenders can charge.

It turns out, New Mexico’s story of a dearth of affordable housing and rents that just keep going up are mirrored around the country, but there is an exception – Albuquerque rents have risen more than many other cities. That’s according to the Harvard Joint Center for Housing Studies, which recently released its annual State of the Nation’s Housing report for 2022.

Small, fast loans often lead to a cycle of ever-deepening debt, according to the Consumer Financial Protection Bureau. Lawmakers in New Mexico are…

Storefront lenders scored a win in Santa Fe Tuesday when the House Business and Employment Committee unanimously sidelined an effort to cap interest rates…

KUNM Call In Show 3/5 8a: Critics say short term loans trap New Mexicans in a cycle of poverty. Often borrowers end up paying more than the amount of the…

Despite the vocal support of a group of religious leaders, a legislative panel decided on a party-line vote Wednesday to set aside two proposals (HB 24…