From an article this evening:

Now, Harrell, R-Charleston, and Cato, a Travelers Rest Republican, are the top sponsors of a bill that would limit consumers to taking out no more than one payday loan at a time for up to $600 dollars and force lenders to check a state database before granting loans. Lender fees would be used to set up and operate the database, which would instantly report when loans are made.

Ultimately, a strong regulatory scheme will provide  payday lenders the certainty they need to run their businesses.   Whether the South Carolina bill provides that remains to be seen.   We’ll watch for the comments of the lenders that do business in South Carolina and post them here.