Payday Lenders

As part of a large bank, I think we have responsibility to the community for fairness in lending practices. part of that responsibility is to not take advantage of the poor.

As I took my daughter home tonight from Rock Hill, we came down Cherry Road to I-77. I was simply floored by the sheer number of payday and title lenders. Plus pawns shops. There must over 10 payday lenders and at least 6 title lenders.

We know this – when the state government steps and limits the amount that these lenders can charge in interest, they go away.  these guys are predators, entrapping the poor in more debt. The fact that South Carolina allows car title lending is even more troubling. 

Look, people are responsible for their actions. But the government must provide some sort of guidelines and protection when the strong injure the weak. Many that sound like a liberal thing to say