S.C. Rep. touts House bill
February 19, 2009 | South Carolina, industry, states | Comments (0)From a column by State Rep. Ted Vick:
The bill dealing with payday lending is a compromise of sorts, by offering some new protections for people who take out these short-term loans, while still allowing the payday lending industry room to operate in our state.
As I recently told a reporter for The State, I wouldn’t call the bill necessarily good. However, it is better than what we currently have. The measure is not as stringent as laws in some states that have banned payday lending altogether, but it certainly puts more controls to protect consumers than current state law does.
As the saying goes, “politics is the art of compromise.”
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