Ethical Factors in Payday & Car Title Loans in South Carolina
Date: Wednesday, May 1, 2018
Time: 3:00-4:30 PM
Place: University of South Carolina Beaufort (USCB) Hospitality Center
One Sand Shark Drive (Formerly 21 Office Park Road), Hilton Head
Presenters: SC State attorneys (to appear for a 15-20 minute presentation on the legal issues and then they depart, returning to Columbia), Fred Leyda and Dave Mortimer
Fred Leyda will leverage national statistics and local real-life scenarios to help paint the picture of the average patron of payday lending institutions. This presentation will describe how payday lenders specifically target and successfully exploit vulnerable populations, as well as touching upon how and why patrons may seek a payday loan despite the financial risk. The goal is to help participants understand the barriers to participating in traditional financial institutions and the unfortunate appeal of payday lenders from the perspective of the average low-income individual or family.
Lawyers from the South Carolina Department of Consumer Affairs will provide an overview of the current SC laws and regulations concerning our topic of "Car Title – Pay Day" Loans. They will speak for about 15-20 minutes, then unfortunately must Leave to return to Columbia.
Dave Mortimer will present the “Pro” position for this topic.
Questions of concern:
This promises to be a very important educational and informative presentation on a topic of significant ethical concern for all of us.
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Our mission is to become better informed ethically and to engage in meaningful discussion about the many complex issues of our time.