By Susan Montoya Bryan / Associated Press
ALBUQUERQUE, N.M. вЂ” Bright indications, many of them blinking neon, lure passers-by along historic Route 66 with promises of quick money if theyвЂ™re in a bind. Window dressings in strip malls, converted filling stations as well as other storefronts in brand brand New MexicoвЂ™s city that is largest inform would-be customers they wonвЂ™t need to вЂњpay the max.вЂќ
The payday and name loan industry claims that despite a bad reputation, tiny loan providers provide mostly of the choices for low-income residents in brand New Mexico, where high poverty and jobless prices are chronic.
вЂњPeople require the amount of money,вЂќ stated Charles Horton, an innovative new Mexico indigenous and creator of FastBucks. вЂњWeвЂ™re licensed, weвЂ™re regulated, weвЂ™re not out breaking kneecaps and doing any such thing unlawful doing the collections. Weiterlesen