Palmetto State News

Operation Choke Point 2.0: SC credit union chief tied to feds’ effort to ‘de-bank’ certain industries

By Palmetto State News Service | Dec 17, 2024

A decade-old Obama administration “operation” aimed at de-banking certain industries is back in the news, as the incoming Trump administration has announced plans to investigate a second iteration of the so-called “Operation Choke Point.”

South Carolina one of 30 states that allows copay accumulators

By Palmetto State News Service | May 28, 2024

South Carolina is one of thirty states that allows copay accumulators.

Report: South Carolina ranked No. 10 for per-capita credit card fraud reports in 2023

By Palmetto State News Service | Apr 22, 2024

South Carolina ranked No. 10 in the country for per-capita credit card fraud reports in 2023.

CEO of SC African American Chamber: 'S.910 could limit access to credit for all South Carolinians'

By Palmetto State News Service | Mar 21, 2024

Stephen Gilchrist, the chairman and CEO of the South Carolina African American Chamber of Commerce, said a pending state senate bill to limit small dollar loans could limit access to credit for African Americans.

National groups lobbying for South Carolina lending restrictions have received millions in federal ‘taxpayer assistance’ while lobbying to ‘shut down the competition’

By Palmetto State News Service | Jan 31, 2024

Two groups pushing for restrictions on installment lenders in South Carolina are part of a “network of businesses and advocacy groups—which has cumulatively received more than $380 million in federal grants, loans, and other taxpayer assistance since 1996" and "has spent millions lobbying the federal government on measures including additional regulations on those lenders,” reported the Washington Free Beacon.