Regulatory Alerts2021-02-09
Small Loan Blackwell Order Denying Renewal License 2015-05
The Director of the New Mexico Financial Institutions Division denied Barry Blackwell's small loan company license renewal due to extensive violations of the Small Loan Act. The order cites 358 violations found during an examination, including excessive fees, failure to report loans to Veritec, and illegal loan terms. Blackwell is prohibited from entering new loan agreements after June 30, 2015, and must cease all small loan business by July 1, 2015.
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