The predatory lending bill increases regulation of and disclosure by mortgage brokers. It limits fees, points and credit insurance, all of which increase the cost of a mortgage. The bill provides protections against high-cost loans, and limits renewal of loans when there is no benefit to the consumer.

It includes new restrictions on title-loan lenders, limiting automobile loan renewals to six months and then freezing the loan for another six months, to give the owner more opportunity to repay. Sue Berkowitz, of the S.C. Appleseed Legal Justice Center, says the latter provision effectively cuts the lending rate -- sometimes as high as 300 percent -- in half. The center, a non-profit, public-interest organization that provides legal assistance to poor people, has long been an advocate for more protections. The bill also was supported by AARP, recognizing that elderly people are often victims of predatory lenders.

"It's light years ahead of where we were," Rep. Joe Neal, D-Richland, told The Associated Press. Rep. Neal has worked for passage of a predatory lending bill for 10 years.

House and Senate also have approved different versions of a bill that would provide changes in the Public Service Commission, which makes decisions on regulated utilities that determine the rates consumers pay. The Legislature should restrict communication between commission members and utility representatives, improve the qualifications of commission candidates and prohibit close relatives of legislators from applying for the lucrative commission positions.

Improving the PSC would have a broad effect on consumers in South Carolina, since its decisions affect those who use electricity, natural gas and telephone service, with millions of dollars cumulatively at stake.