South Carolina S0379 regulates payday loans by allowing existing loans to be serviced under a payment plan and permitting deferred-presentment.
South Carolina S0379 modifies payday loan regulations by allowing outstanding loans after June 30, 2025, to be serviced under a payment plan. It also enables existing deferred-presentment licensees to transition to supervised lenders within the Nationwide Multistate Licensing System without cost until December 31, 2025. The bill prohibits new deferred presentment licenses from being issued and stops new loans or renewals after June 30, 2025. All deferred presentment licenses are revoked on December 31, 2025, and related provisions are repealed on January 1, 2026.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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