Payday Pundit

“Payday lending bill is dead” says the headline from the State Newspaper.

State Rep. Harry Cato, R-Greenville, said he took umbrage at consumer advocates who criticized a House subcommittee that has not acted on the bill since it passed the state Senate on Feb. 19.

Cato, chairman of the House Commerce Committee, said a week ago that the bill would get a vote by May 20 or 21, when the banking subcommittee meets. He said he changed his mind after the AARP held a press conference Tuesday, criticizing the subcommittee for delaying the bill.