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The SCFLA was established in January 2020 by a group of non-profits, community development financial institutions (CDFIs), communities of faith and concerned citizens to address excessively high interest rates that are harming those on fixed incomes, low-wealth individuals and military veterans. The mission of SCFLA is to promote the economic mobility of South Carolinians by advocating for a 36% all-inclusive interest rate cap for consumer loan products.
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