Lawsuits fly in New Mexico
June 21, 2010 | New Mexico, industry | Comments (1)We’ll have to keep our eye on this:
A lawsuit will be filed Monday to determine if Attorney General Gary King is protecting consumers from predatory lending or overstepping his bounds.
Fastbucks will file a countersuit against King after he sued the company and claimed it was taking advantage of people.
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{Payday loan company attorney} Streubel said King is trying to go even further, which is a power intended for the legislature.
“They have considered micro loans every session since and have decided the industry is working pretty well,” Streubel said.
Fastbucks’ attorney responded to King’s claims by saying the company provides a valuable service.
“Often the ability to get instant cash is the difference between getting evicted from their home, getting utilities turned off, getting food and medicine for their families,” Streubel said.
Comments»
Good for the New Mexico Attorney General. He should go after anyone that provides a fast, easy service that comes at a cost. I suggest he go after Taxi Companies, FedEx, Fast Food Places, etc. Soon enough thanks to people like him we will revert back to having choices for cars between black and dark black.