CFSA statement on S.C. veto
June 2, 2009 | South Carolina, industry | Comments (1)National payday advance group responds to
South Carolina Governor’s veto of HB 3301
Washington--D. Lynn DeVault, Board Chair of the Community Financial Services Association of America, released the following statement in response to Governor Sanford’s veto of HB 3301, payday lending reform legislation:
“Payday advances have been debated in the South Carolina legislature for more than three years. Lawmakers carefully weighed the views of consumers, finance experts, and the industry in crafting HB 3301. While the new South Carolina legislation is one of the strictest in the country, it would stabilize our business environment and allow most lenders to continue serving the thousands of South Carolinians who need and value this credit option. If not overridden by the General Assembly, the Governor’s action will eliminate an opportunity to provide consumers with additional protections and our companies with the operating stability they need.”
# # #
Comments»
I agree with Sanford: “Boiled down, it is this administration’s abiding belief that government’s role is not to protect people from their own actions, unless those actions in substantial form impact the lives of others.”
I hope CFSA will reconsider its position.