Senate weakens payday lending regulations in South Carolina reports that a senate subcommittee removed half of a provision that would limit borrowers to 25% of their gross paycheck. Now the bill limits a loan to a $500 max.

Other provisions worth noting is a 2-day cooling off period.

I think Jamie Fulmer of Advance America says it best, “It still places a whole host of arbitrary limits on the industry.”

Regardless, it looks like the state is willing to atleast work with both sides.

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