March 26, 2015

Payday Loan Rules Proposed by Consumer Protection Agency -- The New York Times

The Consumer Financial Protection Bureau, the fledgling agency created in the aftermath of the financial crisis, outlined on Thursday the first draft of regulations to rein in payday loans, the short-term form of credit that can come with interest rates soaring beyond 400 percent.

The proposed rules could sharply reduce the number of unaffordable loans that lenders can make each year to Americans desperate for cash. The proposal covers a wide swath of credit, including certain loans backed by car titles and some installment loans that stretch longer than 45 days. -- 3/26/2015

 

Hobbs sees growth, but exodus from New Mexico continues -- The Albuquerque Journal

A portion of southeastern New Mexico’s oil patch is again among the top 10 fastest growing areas in the nation, according to new data released Thursday by the U.S. Census Bureau.

Aside from highlighting the growth in southeastern New Mexico’s oil and gas country, the latest figures suggest a continued trend of New Mexico losing population.

Census figures that take into account the number of births and deaths between 2013 and 2014 show eight New Mexico counties gained population, including Lea County. More than a dozen others saw a population drain. -- 3/26/2015