Payday Loans and Bankruptcy in Canada: No Clear Correlation
Manitoba University Study Unintentionally Dispels Numerous Myths
Human Ecology professors Ruth Berry and Karen Duncan of the University of Manitoba appear to have been ready to point the accusing finger at payday loans in Canada. Given supporting data, it appears they would have been happy to report that payday loans and [...]
Manitoba’s Judgment of Payday Loans Ignores Reason, Commerce
A Reasonable Argument, Rebuffed With Extreme Prejudice
Governments both large and small often take it upon themselves to decide what consumers should or shouldn’t be able to do with their own money. Call this the “nanny state” mentality if you will. Regardless, it seems that a population is somewhat less than [...]
Ontario Payday Loan Restrictions Coming into Force
But Nanny State Leanings Make it All Ridiculous
When it comes to short-term consumer lending, few products are as quick and convenient as a payday loan. The bulk of payday loan companies in Canada operate within the bounds of established governmental guidelines into order to provide consumers with a safe, affordable [...]
Canada Man Charged with Defrauding Payday Loan Business
Man charged with fraud
A man in St. Catherine’s, Ontario, has been charged with fraud after a three-month police investigation.
Police have determined that the 51-year-old man cashed counterfeit bank drafts at a payday loan business. The company offers short-term loans, installment loans and cash advances along with check-cashing services.
Canadian newspaper news [...]
Trial for Class-Action Lawsuit Against Canada Payday Loan Company Begins
Money Mart mounts defense
A class-action lawsuit that was filed in Ontario went to trial Tuesday. The suit against Canada payday loan company Money Mart alleges that the defendant charged an unlawful amount of interest to its customers.
Money Mart maintains that it did not charge illegal interest or interest rates of [...]
Ontario, Canada, Passes New Payday Loan Laws
Policies require licenses
Ontario has added some new provisions to its Payday Loan Act that will be effective on April 1. The new piece of legislation will require payday lenders and other loan brokers to be licensed. All payday loan lenders must get licenses before April 1.
No loan for a loan
The [...]
GM’s Saab Story | Canadians Don’t Need Payday Loans for Cars
Auto industry still struggling
General Motors has begun dismantling; car prices are being driven so low in Canada that buyers probably won’t need payday loans to cover their down payments.
Cheap Cars in Canada
Auto prices in Canada fell in 2008 for the second year in a row. If a Canadian car salesman [...]
U.S., Canada Meet For Easy Loans on Oil, NAFTA
Obama looks for easy loans in energy
President Obama has gone to Canada in search of answers about energy, where no easy loans will suffice. Sheryl Gay Stolberg of the New York Times reports that President Obama’s first foreign trip was focused most heavily upon energy and its impact on NAFTA.
First, [...]
Ontario Advocate Group PIAC Confused About the Payday Loan
PIAC, leave well enough alone
If certain groups in Ontario have their way, a payday loan would be as hard to come by as honest bank CEOs… right?
Recently, the Center For Responsible Lending or a similar “self-interest” group sat Ontario’s Public Interest Advocacy Centre (PIAC) down in its lap and made [...]
Payday Loans are simple and Plane
Travel is an enormous expense, and a lot of people have to get payday loans in order to cover the cost of a plane ticket and in the world of travel, you never know just what you are going to get. Plane travel these days has generated a lot of [...]
Canadian Payday Loan Study: Meeting Our Needs
In a short period of time, the payday loan has become a popular means to deal with unexpected financial shocks between paychecks. In her payday loans piece for Statistics Canada’s “Perspective On Labour and Income” online journal, Wendy Pyper profiles the growth of the consumer loan product and the financial [...]
Canada May Be Next For Government Payday Loans
Even those wonderful folk who inhabit the Great White North are in need of financial health, and bolstering their economy with choices for financial help, including the choice for a payday loans can help. The economy of that great land of hockey and Rush has begun reeling in the wake [...]
Who Uses Payday Loans – A Canadian Perspective (Manitoba)
Analyze This!
In our previous study, we analyzed current demographic data for users of PersonalMoneyStore.com, an online portal where users can be matched with lenders who supply payday loans for consumers who are experiencing short-term financial difficulties.
The collected data refutes prevalent media claims that the payday loan are instruments of economic [...]
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