meta_id 3300649

On May 13, 2026, the South Carolina Department of Consumer Affairs (SCDCA) finalized a settlement with Cash Central of South Carolina, LLC, a supervised lender. The settlement resolves disputed litigation stemming from the company's operations in South Carolina between 2013 and 2015. SCDCA filed suit against Cash Central in 2016, alleging it charged interest rates exceeding those permitted by law. The loans in question ranged from $750 to $5,000 with annual percentage rates (APRs) between 146 percent and 246 percent. Under South Carolina law, creditors may charge any interest rate they choose; however, if the rate exceeds 18 percent APR, the creditor must first file its rate chart with SCDCA and post the filed rate for public view. Cash Central disputed SCDCA's position, but both parties agreed to settle to avoid further litigation expenses and uncertainty. While Cash Central does not admit liability or wrongdoing under the settlement terms, the company agreed to provide refunds to affected consumers. SCDCA identified certain South Carolina consumers eligible for refunds and will contact these individuals over the course of the next year. SCDCA encourages consumers to research businesses before obtaining high-cost loans. Consumers can verify the maximum interest rates lenders assessing more than 18 percent APR are permitted to charge by visiting consumer.sc.gov, selecting "Fees and Licensee Lookup," then "Supervised Lenders" under the "Maximum Interest Rates" section. REFERENCES: South Carolina Department of Consumer Affairs. "SCDCA Reaches Settlement with Internet Lender." News Release, May 13, 2026. https://www.scconsumer.gov/