Patrick M. Brenner, President of the Southwest Public Policy Institute, sounds the alarm on the fragmentation of consumer finance regulation. With the CFPB scaling back, states are rushing to fill the gap—creating a patchwork of conflicting rules that raise costs, stifle innovation, and hurt consumers. In this SPPI-TV bulletin, Brenner explains how America is moving from one national regulator to fifty competing enforcers, and why Congress must act to restore coherence before every household pays the price.

Relevant reading:

• https://southwestpolicy.com/out-of-one-many/

In this special edition of SPPI-TV, Patrick M. Brenner, President of the Southwest Public Policy Institute, joins Kent Kaiser on Minnesota’s WWTC AM1280 The Patriot, guest-hosting The Jack Tomczak Show.

The 20-minute segment dives into SPPI’s groundbreaking work on consumer credit access and the dangerous consequences of government-imposed price controls and interest rate caps. Patrick and Kent discuss the Institute’s landmark studies No Loan For You! and No Loan For You, Too! — the latter featuring research contributions from Minnesota students Jack Radomski and Brandt Kringlie, who examined the state of alternative credit accessibility in their home state.

From New Mexico to Minnesota, SPPI continues to lead the charge against policies that restrict consumer choice and harm working families.

• No Loan For You!
• No Loan For You, Too!
• Jack Radomski and Brandt Kringlie
• WWTC AM1280 The Patriot
• Southwest Public Policy Institute

In this explosive episode of SPPI-TV, Patrick M. Brenner joins Brandon Vogt on News Radio KKOB to unpack Black Market Payday, the Southwest Public Policy Institute’s groundbreaking investigative report. The conversation reveals how former State Rep. Tara Jaramillo operated an unlicensed payday lending scheme through her company, Positive Outcomes, Inc., targeting low-income and Native American caregivers with interest rates as high as 2,737% APR, while state regulators looked the other way.

Patrick details how overregulation, including New Mexico’s 36% APR interest rate cap, pushed legal lenders out and opened the door to a dangerous black market for credit. The episode also dives into campaign contributions to Governor Michelle Lujan Grisham, Attorney General Raúl Torrez, and the stunning lack of enforcement despite damning evidence.

This is a must-listen for anyone concerned about consumer protection, political corruption, financial regulation, and the real-world consequences of misguided economic policy.

Relevant links:

• https://southwestpolicy.com/report-black-market-payday/
• https://omny.fm/shows/bv-today/black-market-pay-day
• https://www.santafenewmexican.com/news/local_news/former-lawmaker-accused-of-lending-scheme-vows-to-go-after-accuser/article_8ddf66cd-116f-4549-8298-02ec3031c4ce.html
• https://www.newsradiokkob.com/brandon-vogt/
• https://redstate.com/redstate-guest-editorial/2025/06/25/progressive-payday-new-mexico-democrat-probed-for-high-interest-loans-to-workers-n2190876
• https://southwestpolicy.com/report-no-loan-for-you/
• https://southwestpolicy.com/report-no-loan-for-you-too/
• https://www.americanbanker.com/opinion/if-i-cant-get-an-emergency-loan-from-a-bank-its-not-clear-who-possibly-can
• https://www.americanbanker.com/opinion/need-a-200-loan-thanks-to-rate-caps-youre-mostly-out-of-luck
• https://southwestpolicy.com/
• https://donate.southwestpolicy.com/