Should the State of South Carolina enact specific legislation regulating mortgage guaranty insurance cancellation?
NO. Rather than enacting legislation, the General Assembly should memorialize Congress to enact legislation on this issue, without preemptive language. Title Loans A. Should a provision be enacted to prohibit a company from engaging in the lease-back of a vehicle to the consumer in exchange in for an advance of money secured by a motor vehicle title? YES. Specifically including this provision would protect consumers from potentially higher fees charged by lenders attempting to avoid characterization of the transaction as a loan. B. Should title lenders be regulated like supervised lenders, with rate deregulation above $600, or like pawnbrokers, with limitations on the fees charged and the duration of transactions? Title lenders should be regulated as pawnbrokers. Regulation as a pawnbroker would allow the lender to earn higher fees on small loans (less than $600) than they are currently allowed to earn as a supervised lender. Consumers are protected because there is a cap on the intere
