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 [...]
Payday Loan Bills | Pass in British Columbia, Fail in Arizona
British Columbia bill caps interest rates
Starting this fall, interest rates that can be charged on payday loans in British Columbia will be capped at 23 percent.
Unlike most legislation in the United States, the British Columbia law doesn’t cap the annual interest rate; it caps the interest that can be charged [...]
Before You Apply for Payday Loans, Read This
Payday loans targeted in media
I have come across a lot of editorials and other opinionated texts about payday loans lately. Newspaper editorial boards and activist columnists are writing about how payday lenders are “predatory,” and they need to be regulated.
People are quick to call on the organizations to change their [...]
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