We spoke too soon
May 20, 2009 | South Carolina, The State, industry, regulation | Comments (0)From the State (S.C.) Newspaper:
The Senate refused again Tuesday to act on payday lending legislation, invoking a seldom-used Senate rule to delay debate for a day and move on to other bills.
The Senate is speeding toward a May 21st adjournment, with growing sentiment among legislators to wrap up all business this week, including vetoes. That makes today crucial in deciding if the state adopts regulations for a business that has operated for a decade without regulation.
“I hope we carry it over 24 more hours, and 24 more hours after that, right on into next year,” said Sen. Robert Ford, D-Charleston, one of the Senate’s most vocal payday lending opponents.
We’ve learned out lesson. Never be optimistic when it comes to predicting what’s going to happen in a state legislature.
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