Fight brewing in S.C.?
January 3, 2011 | South Carolina | Comments (0)At least one state legislator wants to revisit the issue. From the story:
In the year and a half since the new law passed, more than 100 lenders have traded in their payday licenses for new licenses that allow them to make short-term unsecured loans that don’t have the same restrictions as the payday loans, according to The Associated Press. Some loans require a car title as collateral.
“If they’re going to circumvent the main purpose of the new law, we’re going to have to put some tighter restraints on these lending institutions,” {State Rep. Joe} Jefferson said.
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