Under the SC Consumer Code a lender who grants loans with an interest rate in excess of 12% becomes a "supervised lender". What is the impact once you be come one?

For one, the requirement to file and post maximum interest rates if any consumer APRs > 18% (except for Federal Credit Unions).

I THINK OCC and OTS banks are preempted, but have been unable to find it cited anywhere.

IF you are NOT a bank, there are registration requirements, etc.

For lenders that have to register because they're not banks what happens next? Do they become subject to examinations or closer scrutiny once they become registered as supervised lenders?

As a bank, I don't know the answer to that. I have, however, found the staff of the SC Department of Consumer Affairs http://www.scconsumer.gov/ very co-operative and helpful in answering such questions.

Thanks.