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Thu September 14, 2006
Pay Day Loan Town Hall In Myrtle Beach
By Gary Popp
Wilmington, NC – A series of meetings centered on payday lending services kicks off in Myrtle Beach Thursday night.
South Carolina lawmakers called for the town hall meetings as a way to inform the public about these high interest loans.
The South Carolina AARP's Patrick Cobb says he hopes feedback from these meetings will inform state legislation.
Well, right now we are looking at some legislative changes we would like to see we are advocating for a real-time data base where folks can go in and see who actually has a payday loan. In SC you can have more than one payday loan at a time and this would help control that.
Cobb says this became an issue when officials realized there were more payday loans made in 2004 than there were people living in the state.