HB 132 - Prohibits Future Interest Rate Increases - New Mexico Key Vote
Michelle Lujan Grisham signed this Legislation.
Read statements Michelle Lujan Grisham made in this general time period.
Timeline
- Executive Signed
- March 1, 2022
- Senate Bill Passed
- Feb. 15, 2022
- House Bill Passed
- Feb. 7, 2022
- Introduced
- Jan. 24, 2022
Related Issues
Stage Details
Title: Prohibits Future Interest Rate Increases
Signed by Governor Michelle Lujan Grisham
Title: Prohibits Future Interest Rate Increases
Vote Smart's Synopsis:
Vote to pass a bill that prohibits future interest rate increases.
Highlights:
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Specifies the amount of the loan covered by the bill as $10,000 or less (Sec. 1).
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Limits the interest rates on loans to 36 percent (Sec. 3).
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Authorizes the loan rate to exceed 36 percent when the prime loan rate exceeds 10 percent for 3 consecutive months (Sec. 3).
Title: Prohibits Future Interest Rate Increases
Vote Smart's Synopsis:
Vote to pass a bill that prohibits future interest rate increases.
Highlights:
-
Specifies the amount of the loan covered by the bill as $10,000 or less (Sec. 1).
-
Limits the interest rates on loans to 36 percent (Sec. 3).
-
Authorizes the loan rate to exceed 36 percent when the prime loan rate exceeds 10 percent for 3 consecutive months (Sec. 3).
Title: Prohibits Future Interest Rate Increases