Understatement
March 12, 2010 | South Carolina, federal legislation, industry | Comments (0)Senator Corker and the “cheap shot.”
Name calling isn’t an argument
March 1, 2010 | South Carolina | Comments (1)Christopher George over at the Spartanburg Spark is gleefully tossing around the terms “usury” and “predatory” with regard to payday lenders. Someone needs to fact check–payday loans cost just enough to cover the cost of origination and are not wealth reducing. They’re actually one of the most affordable forms of short term credit, but don’t let the facts interfere with a good story, Mr. George.
Noise in South Carolina
February 23, 2010 | South Carolina, industry | Comments (0)I don’t know how seriously to take this story.
Deja vu all over again?
February 16, 2010 | South Carolina, industry, regulation | Comments (0)A new bill is being announced in South Carolina.
Is PDL an issue in S.C. governor’s race?
February 10, 2010 | South Carolina, industry | Comments (0)At least according to this alternative newspaper.
Applause for new S.C. law
February 4, 2010 | South Carolina, industry, regulation | Comments (0)From Istockanalyst:
The bottom line is that the new law is a smart move, a good preventative measure for South Carolina consumers who are in debt and in danger of making it worse. As we are all acutely aware, individual financial health is key to our economic recovery. It’s to the ultimate benefit of South Carolina to have joined other states in placing limitations on these loans.
What’s with this headline?
February 3, 2010 | South Carolina, industry | Comments (0)3,000 feet is the answer
January 27, 2010 | South Carolina, local issues | Comments (0)That’s the distance payday lenders need to be from each other in Columbia, S.C. to ensure peace, prosperity, democracy and the perpetuation of the human race. These city councils kill me!
If that’s the case
January 25, 2010 | South Carolina, industry | Comments (0)I’m not fond of either of them:
{South Carolina legislators} Ford and Sheheen both favored tougher sentences for violent crime and sided against the payday lending industry.
No, not again
January 13, 2010 | South Carolina, industry, research | Comments (0)Given the intensity of last year’s legislative fight in South Carolina, we don’t expect the legislature to want to revisit payday lending, but this blurb in a South Carolina paper discussing the 2020 session caught my eye:
PAYDAY LENDING In 2009, the S.C. legislature passed its first restrictions on the predatory practice of payday lending, the notorious 400 percent loans on small amounts that entrap the poor. State Rep. Alan Clemmons, a champion of the reforms, described the bill (which only limits the number of loans a consumer could take, not the amount of interest payments that can accrue) as watered down and really only a start. We agree and continue to support a 36 percent cap on interest that both Clemmons (H. 3048, still technically alive) and the national Center for Responsible Lending advocate.
