Monthly Archives: October 2020

Personal loans trap Social Security recipients in debt

Bloomberg/Getty Images In Spanish | The slowing economy could push more Social Security recipients to take out high-interest payday loans, running the risk of being caught in an ever-increasing cycle of debt. A payday loan is usually a short-term loan of less than $500 generally intended for people with low …

Read More »

The proposal reignites the debate on payday loans

Copyright © 2020 Albuquerque Journal SANTA FE — The debate over New Mexico’s interest rate cap on storefront loans may not be over yet. Three years after state lawmakers approved a bill capping small loan interest rates at 175%, a leading Santa Fe-based think tank is proposing that the cap …

Read More »