The New Mexico House and Senate have both passed House Bill 132 which would create a 36% annual percentage rate (APR) cap on loans up to $10,000 made under the New Mexico Bank Installment Loan Act of 1959 (BILA) and the New Mexico Small Loan Act (SLA). In an apparent effort to reach non-bank participants in bank-model programs, the bill would also expand the SLA’s anti-evasion provision. … Continue Reading
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New Mexico becomes 48th state to enact data breach notification law
By Kim Phan on
Posted in Cybersecurity, Regulatory and Enforcement
New Mexico recently became the 48th state to enact a data breach notification law. This continues the accelerated pace of state data breach legislative activity in the last two years. Since 2015, at least 41 states have considered legislation relating to data security incidents, and at least 16 states have enacted or amended such laws.… Continue Reading