Payday lending stalls action in Senate

Sen. Robert Ford Tuesday made good on  his promise to block all House-passed legislation in the Senate until lawmakers find a way to pass payday lending reform. Ford, of Charleston, put a hold on second and third reading of all House bills, objecting to the House's refusal to allow a payday lending bill out of committee.

"For the House to ignore legislation we have spent 2 1/2 years working on because they got an explosion of contributions from the (payday lending) lobby -- that's not gonna happen," said Ford, angered by the gridlock. "This is important to me."

The Senate is working on a new amendment to a bill many hope will put pay day lending back before the House, on the floor, where members can debate it and vote the measure up or down.

The Senate approved a bill earlier this year that caps interest pay day lenders can charge for a loan, and also resticts the number of loans a customer can have at one time and mandates a waiting period between loans.

The House has held the bill in committee for weeks, saying they were studying it closely, before announcung last week they would not take action on the measure this year. Ford said payday lenders have South Carolina reidents caught "in a vicious cycle."

"It's wrecking the lives of South Carolina citizens and I'm very serious about this," Ford said. Sen. Joel Lourie, D-Richland, who is workiing on the Senate amendment, said he is cautiously optimistic about the chances a measure can be crafted and sent again to the House this year.

Comments

[Sandy Staten]

Before pay day lending can help people it has to be set up on one system so we the lenders know how many loans on the person is out there.
Cooling off does not help when they need that money to pay other bills.
ACH is a large problem
Banks closing accounts is another
Fraud is another
Non - payment is another / Collections
391 % is another
It can work for all , there just needs to be a group for pay day workers in your around of meetings to answer questions.
I have worked in this for 6 years I can tell the people know how to beat the system and bankrupt on NSF checks is a joke in SC.

[Eddie]

Senator Ford is a JOKE! It is IMPOSSIBLE for someone's life to be "wrecked" by one or more Payday Loans. These Short term loans are not secured, therefore nothing can be taken from a customer that decides not to pay. I ask, Mr. Ford, where does the "wrecking" come in to play? I personally believe the SC Lottery has wrecked many, many lives in SC but where is our savour Robert Ford there? Gambling is a known addiction, addictions wreck lives, not small unsecured loans. It is all about Robert Ford and the Black Caucus agenda, period!

Senator Ford why don't you waste 50,000 peices of postage by sending out a mailing again warning people "Not to go in cash advance stores it will wreck your life !

Biography:FORD, Robert [D]--(Dist. No. 42, Charleston Co.)--Developer; , SCLC Staff, 1966-72; arrested 73 times during civil rights movement;

Hard headed I think ?

[jeff]

how much are the trial lawyers paying senator ford to cary their water?

[The Truth]

Is the legal business that bad off right now Senator Hawkins? You have to stoop to "behind the scenes" corrupt tactics to give your Class Action lawsuit some form of false validity? The best thing to happen for South Carolina in quite awhile is the fact that you are not running for office next term, thank God!

[Mike Wilson]

I have a wager to propose to Senator Ford, seems he's a "gambling man" anyway. I will bet you a years salary there are far more families and lives ruined by addiction to the State Lottery than using a Payday Loan. Are you a man of your word? Do you trully care about the lives of the lower and fixed income citizens of our State? If you did you would be spending your time attempting to ban the State Lottery instead of doing favors for your Senate buddies and thier lawsuits. Do you think we, the citizens of South Carolina, are really that naive? Or is it that you just don't care what the people think?

[Hopeful]

Let's all just pray Senator Ford retires with his buddy Hawkins SOON!

[Michelle Bailey]

Mr Ford,

And all of the others that are against payday lending has anyone of you stopped to think how many of us will not have a job if this bill passes??? No one puts a gun to peoples head and makes them come to us. I thought this was a free country, if so why are you trying to take our choices away?