SC moves forward on payday lending limits

By: Tom Campbell Email
By: Tom Campbell Email

February 20, 2008

COLUMBIA, S.C.---South Carolina government leaders are making progress on new rules for payday lenders.

The State Senate has agreed on a bill requiring lenders to check a borrower database and place a $500 limit on loans.

The proposal also bans multiple loans in a seven-day period.

The Senate has to vote on the bill one more time before it goes to the House.


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