Don’t let predatory lenders win

Once again, the well-being of New Mexicans is apparently being held hostage by predatory lenders. Usurious lending increases poverty in the state, and only exists because our legislators have yet to demonstrate that they care more about helping New Mexicans out of ever-expanding cycles of poverty than they do about pleasing predominantly out-of-state lenders and their lobbyists. It is time for both Democrats and Republicans in the Senate to quickly do the right thing and pass House Bill 132 (with a 36 percent cap on interest) and for the governor to sign this bill. Think New Mexico has done an excellent job of keeping this issue moving forward — it is now time for the Senate and governor to step up and help New Mexico. Do not let this bill die again.

Dr. Ron Voorhees Santa Fe