New Mexico Story Archive

CUANM Supporting Anti-Predatory Lending Bill
March 25th, 2021

Dear Governor Lujan Grisham,

In January you established a list of priorities for the 2021 legislative session. Credit unions and many others were very hopeful when you set capping rates on predatory loans as one of your key efforts. Unfortunately that bill, and many of our legislators, were mislead by the predatory lending industry and the stain of 175% or even 99% interest rates on small-dollar loans continues in New Mexico.

Today you are considering the list for action during a special legislative session. It would be a great service to add your priority legislation to that session and give legislators another chance to end the suffocating debt trap caused by predatory lenders.


Securities Division Reminds Firms to Contact Regulators with Issues Related to Solarwinds Breach

January 8, 2021 —SANTA FE – The Securities Division of the New Mexico Regulation and Licensing Department is reminding financial service registrants, particularly state-registered investment advisers and intrastate broker-dealers, to report any known issues or concerns related to the recent SolarWinds cybersecurity incident to their primary securities regulator.

“By utilizing trusted software updates, the bad actors took advantage of the normal and recommended best practice of keeping software up to date. Thousands of companies may have been exposed simply for doing the right thing” said Linda Trujillo, Deputy Superintendent.

In December 2020, the federal government has reported that SolarWinds, a vendor that provides updating and monitoring software to numerous government agencies and private companies, was the victim of a breach that caused SolarWinds Orion Network Management Products to transmit malware to many of its clients, including federal, state, and local governments, as well as other private sector entities.


Regulator retires; deputy named acting director
Sept. 6, 2016 — Change has come to New Mexico financial institution supervision with the retirement last week of the state’s principal top financial institution regulator– and the appointment of an acting director. Cynthia Richards retired officially Aug. 31, having served just more than five years (since July, 2011) as director of the financial institutions division of the New Mexico Regulation and Licensing Department. Taking her place (as acting director) is Deputy Director Christopher Moya. “It has been an honor to serve the people of the State of New Mexico and to work alongside such capable and dedicated professionals both in our government service and in the New Mexico financial industry,” Richards said in a statement. “My goals have always been to protect the people of our state, to insure the soundness of our financial industries and to promote the professionalism of the Financial Institutions Division.”

Press release/Richards retires, Moya named acting director

First Financial Credit Union Joins the Apple Pay Party
May 11, 2015 – Less than three months after it announced a merger with Chino Federal Credit Union in Silver City, First Financial Credit Union launched Apple Pay to its entire member base May 4. It joins Nusenda Credit Union in being one of only two credit unions in the state to offer Apple Pay.

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