South Carolina · 2025-2026 Regular Session · Bill
S 488: Unfair Trade Lending Practices
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
S 488 is a bill introduced in the South Carolina Senate on March 25, 2025. According to its official title, it concerns: Unfair Trade Lending Practices. Primary sponsor: Tom Davis (Republican), Ed Sutton (Democratic). Most recent recorded action (March 25, 2025): Referred to Committee on Labor, Commerce and Industry.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 39-5-30 SO AS TO MAKE IT UNLAWFUL FOR ANY PERSON PROVIDING A CONSUMER INSTALLMENT LOAN OR DEFERRED PRESENTMENT LOAN TO ENGAGE IN PREDATORY CONSUMER LOAN PRACTICES; AND BY ADDING SECTION 37-3-516 SO AS TO CREATE A DATABASE THROUGH THE CONSUMER FINANCE DIVISION OF THE BOARD OF FINANCIAL INSTITUTIONS TO COLLECT DATA AND TO PREVENT A PERSON FROM HAVING A SUPERVISED OR RESTRICTED LOAN TRANSACTION THAT EXCEEDS THE LIMITS FOR REFINANCING LOANS.
Sponsors
Sponsors by party (alphabetical): Democratic 1 · Republican 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Tom Davis | Primary sponsor | Republican | Senate | 46 |
| Ed Sutton | Primary sponsor | Democratic | Senate | 20 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Referred to Committee on Labor, Commerce and Industry
- Introduced and read first time