South Carolina AARP Calls for Payday Loan Awareness Meeting

Historical archive, first published 2006 — payday-lending laws and rates have changed since. Preserved for the record.

In a match-up of payday loans versus Big Macs, the financial resources dominate the fat-laden entrees across South Carolina.

There are six cheap payday loan lenders for every McDonald's restaurant in the state. In 2004, these cash advance providers made over 4.3 million loans - more than the entire population of South Carolina.

The local AARP says that's too many. Therefore, the orgamization is sponsoring five Payday Lending Town Hall meetings around the state to hear from consumers, advocates, the faith community, credit counselors, lenders and others to discuss the need for reforms no fax payday loan industry.

The local meeting will be held at 5:30 p.m. Sept. 14 at the Grand Strand Senior Center at 1268 21st Ave. N. in Myrtle Beach.