Title: Prohibits Future Interest Rate Increases
Signed by Governor Michelle Lujan Grisham
Title: Prohibits Future Interest Rate Increases
Vote to pass a bill that prohibits future interest rate increases.
Specifies the amount of the loan covered by the bill as $10,000 or less (Sec. 1).
Limits the interest rates on loans to 36 percent (Sec. 3).
Authorizes the loan rate to exceed 36 percent when the prime loan rate exceeds 10 percent for 3 consecutive months (Sec. 3).
Title: Prohibits Future Interest Rate Increases
Vote to pass a bill that prohibits future interest rate increases.
Specifies the amount of the loan covered by the bill as $10,000 or less (Sec. 1).
Limits the interest rates on loans to 36 percent (Sec. 3).
Authorizes the loan rate to exceed 36 percent when the prime loan rate exceeds 10 percent for 3 consecutive months (Sec. 3).
Title: Prohibits Future Interest Rate Increases