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    postheadericon Big bucks being made down low-income earners in S.C.

    Big bucks being made down low-income earners in S.C.

    On high-interest lending; Southern ghosts; New machines that are voting

    By Lindsay road, Statehouse correspondent | Nearly a quarter billion dollars in fees were levied against a few of the state’s lowest money earners in 2018 because they took down high-interest loans of significantly less than $1,000, in accordance with a fresh report.

    In April, the middle for accountable Lending granted a state-by-state check costs created from short-term, lower levels loans that may charge triple digit rates of interest lent against a vehicle name or even a future paycheck. Sc are 12th when you look at the country within the number of charges: $57.8 million in cash advance charges and $187.3 million in vehicle name loan costs.

    The income that is average of taking out fully the loans are $25,000 each year, report writer Diane Standaert told Statehouse Report . Devamini Oku »