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Archive 2018-04-10T21:15:48+00:00

COVID-19 Resources for Borrowers

May 12th, 2020|Comments Off on COVID-19 Resources for Borrowers

TOP US GOVERNMENT WEBSITES Visit these federal government websites for current information about the coronavirus (COVID-19) and how to take steps to protect yourself and your family: Latest Official Information (Coronavirus Task Force) Frequently [...]

Borrower Assistance During the Pandemic

May 5th, 2020|Comments Off on Borrower Assistance During the Pandemic

NILA members understand that we serve a section of society that has been particularly hard-hit by the economic consequences of public policy aimed at managing the COVID-19 pandemic. Many of those we serve have [...]

New Mexico’s Harmful COVID-19 Policy (PART 2)

April 13th, 2020|Comments Off on New Mexico’s Harmful COVID-19 Policy (PART 2)

As things stand, NILA members in New Mexico are in receipt of the Financial Institutions Division’s Public Health Emergency Order, dated April 6, 2020, and are moving rapidly to comply. They have begun closing their [...]

New Mexico’s Harmful COVID-19 Policy (PART 1)

April 13th, 2020|Comments Off on New Mexico’s Harmful COVID-19 Policy (PART 1)

While forty-eight states are following the federal government’s advice on the classification of non-bank financial services as “critical infrastructure” during the coronavirus pandemic, New Mexico is one of two states in which the Governor [...]

Installment Lenders are Essential During the COVID-19 Epidemic

March 26th, 2020|Comments Off on Installment Lenders are Essential During the COVID-19 Epidemic

At times of economic turmoil, access to financial services, particularly for the most vulnerable who do not have banking relationships, is essential to minimizing hardship and setting the stage for eventual recovery. Recognizing this, [...]

The Economist: Capping Interest Rates Leads to More Debt and More Default

March 13th, 2020|Comments Off on The Economist: Capping Interest Rates Leads to More Debt and More Default

A recent piece in The Economist, made a number of points about payday loans, including the fact that they are rarely paid off in a single payment as intended; most are rolled over [...]