COLUMBIA, S.C. (AP) - Those payday lending regulations the Legislature approved overwhelmingly would be scuttled if Governor Mark Sanford can muster enough votes to sustain his veto.
Sanford has to get a third of the Senate's and House's votes to have his veto stand Tuesday as the Legislature returns to take up 10 vetoes from a stack bills passed in May during a recession-shortened legislative session.
The payday lending regulations cleared the Senate with a 41-4 vote and the House 102-6.
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.
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