In South Carolina, payday and car-title lenders charge working families 395% interest, creating a debt trap that can keep South Carolina families in a cycle of debt for years. In fact, these lenders drain more than $245 million from South Carolinians, primarily from low-income families and communities of color. South Carolinians want reform that has been proven to stop the debt trap—a true rate cap on payday loans that repeals the ability of payday lenders to charge the high rates and restores a maximum limit of 36%.