Changing bad habits of the past is seldom easy. That’s why seeing legislation capping annual interest rates for small loans make it out of the New Mexico Senate this week is encouraging.

Legislation to halt predatory lending has never made it this far.

With Senate Bill 66 now in the House of Representatives, the odds are good that New Mexicans in need of a quick loan between paychecks won’t be stuck with ridiculously high interest rates that make it difficult to pay back the principle.