New Mexico AG: Loan ruling could benefit thousands

Published



ALBUQUERQUE, N.M. (AP) — Thousands of New Mexico residents may receive money back from high-interest lenders thanks to a state Supreme Court decision, Attorney General Gary King said Friday.

King said the ruling against two lenders who were charging as much as 1,500 percent for “installment loans” means his office can begin pursuing cases against dozens of other companies. His office has one other current case pending in district court and intends to investigate more, he said.

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