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lobbyist

How A Reform Bill Loses Its Teeth In 60 Days

Mar 25, 2015
Flood via Flickr / Creative Commons License

For 60 days, New Mexico’s lawmakers debated in legislative committees and in hallways of the Roundhouse whether or not to reveal to the public how lobbyists go about influencing legislators.

The answer came back “not” last week.

Lawmaker Wants To Cap Storefront Lending Rates

Feb 2, 2015
Daquella manera via Flickr

The average person who takes out a short-term loan borrows about $650 and pays about 340 percent interest.  But rates on payday, title and installment loans would be capped at 36 percent if reformers get their way during the 2015 legislative session.

There were 657 small loan companies in New Mexico in 2013, many charging more than 175 percent, according to a report from the state Regulation and Licensing Department.