House Overrides Governor Sanford's Veto of Payday Lending Rules

By: Associated Press | News Channel 7
Published: June 16, 2009

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(AP) The 105-4 vote came Tuesday as the legislators returned to Columbia to take up vetos of bills passed last month. The vote came with no discussion. The Senate will take up the veto later Tuesday. Sanford said consumers need access to loans as he vetoed regulations that limit people to a single $550 loan at any time by creating a database lenders would have to check. Consumers would have to wait a day between loans for the first seven and then two days for additional loans. The bill had cleared the Senate with a 41-4 vote and the House 102-6.

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