Knowing your South Carolina loan regulator helps you check a lender’s license and act quickly if something goes wrong. Two state bodies matter most for everyday borrowers.
Quick answer: Payday and consumer finance lenders in South Carolina are licensed by the Board of Financial Institutions, Consumer Finance Division. The Department of Consumer Affairs handles many consumer complaints.
Board of Financial Institutions
The Consumer Finance Division of the Board of Financial Institutions licenses, supervises, and examines payday lenders, consumer finance companies, and check-cashers. Its office is at 1205 Pendleton Street, Suite 306, Columbia, SC 29201, and the division is led by the Commissioner of Consumer Finance.
Department of Consumer Affairs
The South Carolina Department of Consumer Affairs takes consumer complaints, publishes education, and administers newer laws like earned wage access registration. It’s a good first stop if you feel a lender treated you unfairly.
How to protect yourself
- Confirm the lender is licensed before you borrow.
- Keep copies of every agreement and receipt.
- File a written complaint if fees or collection practices break the rules.
FAQ
Who licenses payday lenders in SC?
The Board of Financial Institutions, Consumer Finance Division.
Where do I complain about a lender?
Start with the Department of Consumer Affairs or the Board of Financial Institutions, depending on the issue.
Can I check a license online?
Yes — licensing is tracked through the state and the national NMLS system.
This article is for educational purposes only and is not financial or legal advice. Loan laws change — before you borrow, verify the lender is licensed with the South Carolina Board of Financial Institutions, Consumer Finance Division, and compare cheaper options first.