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 [...]
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 [...]
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 [...]
Board Advises $21 Payday Loans Cap in Ontario
Is capping payday loans a good idea?
The Associated Press reports from Toronto that an “independent advisory board” is advising that Ontario’s government should cap the cost of payday loans at $21 for every $100 loaned. If this were to become law, it would join the current consumer protections provided by [...]
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