Payday lending debate begins

COLUMBIA – Legislators began debate on a tougher bill regulating the payday lending industry in South Carolina as a Charleston legislator complained about the House killing the bill last year.

A Senate Banking and Insurance subcommittee took up the issue Wednesday. Sen. Wes Hayes of Rock Hill chairs the panel and says that bill and the House’s passage of another bill regulating the industry should speed work this year.

But Charleston Democrat Sen. Robert Ford objected to plans to use the House bill. He says House leaders refused to take up his version of the bill last year. Ford says that allowed the industry to regroup to fend off tougher regulation.

Ford says he’s pushed regulating the industry this year and wants credit for those efforts.