Canada Payday Loan Laws & Legislation Update

By | Dec 16, 2009

The Province of Ontario will complete its regulation of the payday loan and cash advance industry as of December 15, 2009. This includes includes a maximum rate of $21 per $100 loaned. Included in the new regulations are strong consumer protections in conjunction with good, solid, and fair enabling legislation thus assuring the future of the payday loan industry in Ontario.

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New Payday Loan Industry Survey Results Available.

By | Jun 6, 2009

Motivations for Using Payday Loans.
Users cite a range of situations of great need, or emergency situations in general, as their reasons for needing payday loans. The most frequently mentioned reason for needing a payday loan is to pay bills or prevent overdue bills (40%).

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Payday Loan Laws in British Columbia – Canada

By | Mar 4, 2009

Canada: British Columbia announced new regulations capping total charges for payday loans offered in the province at $23 per $100 loaned including all interest and fees.

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