Elliott NewsLocal news for Elliott, SC continually updated from thousands of sources on the web.EDITORIAL: Harsh Reality- February 21, 2008 "Come up and explain how 400 percent interest is ever right." The S.C. Senate this week rebuffed a noble effort to stamp out payday lending in South Carolina. By a five-vote margin, senators instead adopted rules that supposedly would keep South Carolinians out of perpetual hock with payday lenders.The Senate majority, including Sen. Ray Cleary, R-Murrells Inlet, decided that payday lenders should remain free to grant two-week loans at high interest rates to folks who run short of money. And...http://www.topix.net/city/elliott-sc/2008/02/editorial-harsh-reality?fromrss=1 |