The State covers the latest developments of the payday lending debate in South Carolina. Coverage includes common-sense commentary from  S.C. Rep. Phillip Owens on payday lending businesses and their lending practices. 

The business man is not going to be irresponsible in his business practices — in this case, the lending business. He would like to get repaid.

An allegation oft repeated by industry critics is that payday lenders lend money to people who can’t pay them back.  In case critics need reminding: Payday lenders are not operating as charities or non-profits. They are a business, run by business people.  If you lend money to people who can’t pay you back…you business model would prove faulty and you wouldn’t be in business very long.  Don’t they teach that the first day of business school?