Kxkh James Billen Memorial Service June 18
Rep. Susan Herrera聽STATE News:SANTA FE 鈥?A law to protect the financial security of low-income New Mexicans and prevent predatory lending cleared its first legislative hurdle today, passing the House Consumer and Public Affairs Committee.HB 132 reduces the annual interest rate for loans made under the New Mexico Bank Installment Loan Act and New Mexico Sma stanley borraccia ll Loan Act from 175 percent to 36 percent. The legislation would also limit maximum loan terms for loans of $10 thousand or less to a period of 24 months and proh stanley cup ibit accrual of fees, penalties and charges for ancillary products. Abusive loan rates are keeping our families and communities down, it a financial epidemic, said Rep. Susan Herrera D-Embudo . We must bring an end to these practices, in order to protect New Mexican families from financial harm. HB 132, sponsored by Rep. Herrera and Speaker Brian Egolf D-Santa Fe along with Representatives Joy Garratt D-Albuquerque , Phelps Anderson DTS-Roswell and Daymon Ely D-Corrales , passed the committee with a 3-2 vote, along part stanley cup nz y lines.聽The Roundhouse is open to the public for the session. Proof of full COVID-19 vaccination will be required to enter the building. Members of the public can view floor sessions and committee meetings on the New Mexico legislatures聽Webcasts tab, and provide comment via phone or Zoom as directed on the聽daily schedule.聽聽Subscribe FREE to News AlertsMake the Daily Post your HomepageMore News Like us on FacebookSubscribe FR Mysv New Mexico COVID-19 Update: 448 New Cases, Total Now 183,781 With 14 New Deaths And 137,250 Patients Recovered
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