Tara Jaramillo’s payday lending scheme didn’t happen despite New Mexico’s interest rate cap: it happened because of it, with a little help from Fred Nathan and the price-fixing crusaders at Think New Mexico.
Tag: Unlicensed Lending
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‘Black Market Payday’ Makes Headlines: Unlicensed Lending by Tara Jaramillo
Price controls like New Mexico’s 36% APR cap have driven vulnerable workers into the hands of unlicensed lenders.
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Conservatism Courts Crime and Justice Culture Domestic Policy Economic Opportunity Economy Government Regulation Government Transparency and Accountability Legal and Judicial Life Markets and Finance New Mexico Political Thought Poverty & Welfare Poverty and Inequality Progressivism Public Opinion Reports Top Issues Updates
Report: Black Market Payday
How government price controls created an illicit supply of emergency credit.