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There was recently an article written in The Sun News, a South Carolina paper, concerning the option of a payday loan . The article was written by Craig Conwell and has some very valid and interesting points that I wanted to briefly summarize. Craig is a 42-year-old man who successfully graduated from college and had numerous small businesses. He has been professionally successful, but has also had some very hard times. He says, “…there have been times when I did not know if I w

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Random Feed wrote an interesting post today on
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An editorial [Dec. 23] suggested that the “unraveling” of the economy is a good time for the legislature to “rein in” the payday lending industry.

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Random Feed wrote an interesting post today on
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A leading lender for the payday lending industry says legislation that advanced Thursday will doom the business in South Carolina as it ties borrowing to income and forces waiting periods between loans. “I think it will make it very difficult for any operator to continue operating in South Carolina,” said Jamie Fulmer, a spokesman for Advance America Cash Centers Inc. The Spartanburg-based …

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Random Feed wrote an interesting post today on
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Legislators heard from supporters and opponents of the payday lending industry Wednesday as a panel took up legislation that could impose new regulations. “We can’t simply pass a bill and call it reform,” Sen. Joel Lourie, D-Columbia, said. “It’s got be comprehensive, and it’s got to protect consumers. … I think we’ve got to hold the industry accountable to the purpose that they allege to …

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Random Feed wrote an interesting post today on
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A House subcommittee wasted little time Tuesday in passing the state’s newest edition of payday lending reform, giving easy approval to a heavily backed bill that raises to $600 the amount a lender may loan to individual clients, while avoiding a cap on the interest rate they can charge. Despite pleas from several lawmakers and some members of the public for stronger regulation, the committee …

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