H 4269 General Bill, By Sandifer
 A BILL TO AMEND SECTION 37-3-202, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO ADDITIONAL CHARGES ASSOCIATED WITH CONSUMER LOANS, SO AS TO
 INCLUDE A CHARGE FOR THE ACTUAL COST INCURRED BY A LICENSEE FOR PROCESSING AN
 AUTOMATED CLEARING HOUSE PAYMENT AND A CHARGE FOR THE ACTUAL COST INCURRED BY
 A LICENSEE FOR PAYMENTS MADE BY CONSUMERS VIA CREDIT OR DEBIT CARDS.

   05/25/11  House  Introduced and read first time (House Journal-page 6)
   05/25/11  House  Referred to Committee on Labor, Commerce and
                     Industry (House Journal-page 6)
   03/08/12  House  Committee report: Favorable with amendment Labor,
                     Commerce and Industry (House Journal-page 4)
   03/20/12  House  Debate adjourned until Wed., 03-21-12
                     (House Journal-page 69)
   03/21/12  House  Debate adjourned until Thur., 03-22-12
                     (House Journal-page 13)
   03/22/12  House  Debate adjourned until Tues., 03-27-12
                     (House Journal-page 26)
   03/27/12  House  Debate adjourned until Wed., 03-28-12
                     (House Journal-page 17)
   03/28/12  House  Debate adjourned until Tues., 04-17-12
                     (House Journal-page 20)
   04/18/12  House  Debate interrupted (House Journal-page 25)
   04/19/12  House  Amended (House Journal-page 20)
   04/19/12  House  Rejected (House Journal-page 20)
   04/19/12  House  Roll call Yeas-46  Nays-57 (House Journal-page 22)

AMENDED

April 19, 2012

H. 4269

S. Printed 4/19/12--H.

Read the first time May 25, 2011.

TO AMEND SECTION 37-3-202, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ADDITIONAL CHARGES ASSOCIATED WITH CONSUMER LOANS, SO AS TO INCLUDE A CHARGE FOR THE ACTUAL COST INCURRED BY A LICENSEE FOR PROCESSING AN AUTOMATED CLEARING HOUSE PAYMENT AND A CHARGE FOR THE ACTUAL COST INCURRED BY A LICENSEE FOR PAYMENTS MADE BY CONSUMERS VIA CREDIT OR DEBIT CARDS.

Amend Title To Conform

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 37-3-202(1) of the 1976 Code, as last amended by Act 234 of 2004, is amended by adding the following subitems at the end to read:

"(g)    five dollars for processing an automated clearing house payment unless:

(i)        the licensee requires the consumer to use the payment method;

(ii)    the payment was authorized by the consumer in advance to recur at regular intervals; or

(iii)    the payment does not clear the consumer's bank account within three business days after the payment authorization by the consumer;

(h)    five dollars for accepting payment made via debit or credit card. This charge must be equal to the difference in the amount of payment made by the debit or credit card holder on a consumer loan and the actual amount received by the licensee from the credit card processing company unless:

(i)        the licensee requires the consumer to use the payment method;

(ii)    the payment was authorized by the consumer in advance to recur at regular intervals; or

(iii)    the payment does not clear the consumer's bank account within three business days after the payment authorization by the consumer."

SECTION    2.    This act takes effect upon approval by the Governor.