South Carolina Senate Bill 488: Unfair Trade Lending Practices

South Carolina · 2025-2026 Regular Session

What it does

Amend The South Carolina Code Of Laws By Adding Section 39-5-30 So As To Make It Unlawful For Any Person Providing A Consumer Installment Loan Or Deferred Presentment Loan To Engage In Predatory Consumer Loan Practices; And By Adding Section 37-3-516 So As To Create A Database Through The Consumer Finance Division Of The Board Of Financial Institutions To Collect Data And To Prevent A Person From Having A Supervised Or Restricted Loan Transaction That Exceeds The Limits For Refinancing Loans.

Latest action

Referred to Committee on Labor, Commerce and Industry (2025-03-25)

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