brand brand New Mexico Gov. Susana Martinez is flanked by advocates as she covers opioid and heroin overdoses in brand brand New Mexico during a bill signing ceremony at a substance punishment therapy center in Albuquerque, N.M., on Thursday, April 6, 2017. Among other items, the bill finalized by Martinez requires all state and regional police force officers become loaded with an overdose antidote kit. (Photo: Susan Montoya Bryan/AP)
SANTA FE вЂ” brand New Mexico is reining in high-interest loans through the storefront financing industry under a bill finalized by Gov. Susana Martinez.
Finalized on Thursday, the legislation effortlessly eliminates loans that are payday meaning and caps rates of interest at 175 %. Tiny loans which have terms lower than 120 times are prohibited.