Yes, We Now Have A Payday Loan Crisis

Yes, We Now Have A Payday Loan Crisis

Ted Michalos: Congratulations.

Doug Hoyes: therefore, let’s focus on a number of the back ground. In 2008 the federal government of Ontario introduced the payday advances behave to modify cash advance loan providers. Before that the sole regulation ended up being the Criminal Code of Canada, which of course ended up being legislation that is federal.

In 2016 the Ontario federal government introduced Bill 156, the choice economic solutions statute legislation amendment work they proposed various changes to the payday loans act, including limits on how many payday loans you could get in a certain period of time, obviously to prevent multiple repeat payday loans because they like simple titles, where. Continue reading “Yes, We Now Have A Payday Loan Crisis”