By Lindsay Street, Statehouse correspondent | Nearly a quarter billion dollars in fees were levied against a number of the state’s cheapest income earners in 2018 because they took down high-interest loans of significantly less than $1,000, based on a brand new report.
In April, the middle for Responsible Lending issued a state-by-state appearance at charges produced from short-term, low quantity loans that will charge triple digit interest levels lent against a motor vehicle name or a paycheck that is future. Sc is 12th when you look at the country into the level of charges: $57.8 million in cash advance costs and $187.3 million in automobile name loan costs. Continue reading “A lot of money being made down low-income earners in S.C.”