Bill > H4147

This bill requires credit unions in South Carolina to publicly disclose all potential fees and charges that could be imposed on their members. Specifically, the legislation mandates that credit unions must prominently display these fees and charges in two primary locations: physically within their business premises and electronically through their website, mobile application, or any other digital platform they use. This transparency measure aims to ensure that members are fully informed about potential financial obligations before incurring them, helping consumers make more educated financial decisions and understand the complete cost structure of their credit union services. The bill would become effective immediately upon receiving the Governor's approval, adding a new section (34-26-290) to the South Carolina Code of Laws governing credit unions.

Business and Industry

https://www.scstatehouse.gov/billsearch.php?billnumbers=4147&session=126&summary=B