Listen live @ – click the top right play button!

On air Monday – Friday – 12 pm

Tuesday, February 28, 2023 – How capping loan interest rates helps Native people

New Mexico just joined the growing list of states to cap loan interest rates at 36%. While still onerous compared to conventional bank loans, it’s a far cry from the up to 175% annual interest rates some store front businesses were charging. In New Mexico, proponents of the interest rate limit noted that 60% of the high interest establishments were within 10 miles of Native reservation boundaries. Tuesday on Native America Calling, we find out about how interest rate caps work and what alternatives there are for low-income or low credit score borrowers.