Reporting of credit required

A. For each installment loan issued pursuant to Paragraph (1) of Subsection F of Section 58-15-2 NMSA 1978 and refund anticipation loan made pursuant to the New Mexico Small Loan Act of 1955, a lender shall report to a consumer reporting agency the terms of the loan and the borrower's performance pursuant to those terms. B. For each installment loan issued pursuant to Paragraph (2) of Subsection F of Section 58-15-2 NMSA 1978, a lender may report to a consumer reporting agency the terms of the loan and the borrower's performance pursuant to those terms. C. Any lender making a report to a consumer reporting agency pursuant to this section shall report both positive and negative performance by the borrower. History: Laws 2017, ch. 110, § 21; 2022, ch. 23, § 9.