Beautiful beaches, Appalachian foothills and one of the greatest rivalries in college football may attract Americans looking to relocate to South Carolina, but the Palmetto State’s real success story is its commitment to free market principles. South Carolina has built a reputation as a place where businesses can grow, families can thrive and government generally stays out of the way, helping make it the fastest growing state in the nation. That growth is a direct result of policies that embrace economic freedom instead of burdensome regulation and political micromanagement.
South Carolina’s Guarantee Banking Act—currently awaiting final approval by the State House—threatens this progress. While its goal of preventing politicized debanking is worthy, the bill would attack a federal problem with a state-level mandate that creates new costs, litigation risk and regulatory confusion.
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