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Bill 156 – Is This The Cash Advance Regulation We Truly Need?

Tuesday, November 3rd, 2020

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It’s no key that payday advances charge an interest rate that is outrageously high. In Ontario, at the time of 2018, payday loan providers may charge $15 for $100. You would pay $390 a year, that’s an interest rate is 390% on an annual basis if you take out a new $100 loan every two weeks. And therein lies the nagging issue by using these forms of loans. Exactly what may be the solution?

A Research and Parliamentary Analyst at the Public Interest Advocacy Centre (PIAC) about Bill 156 and https://mytranssexualdate.org/ pay day loan regulation on today’s podcast, I speak with Jonathan Bishop. The PIAC is really an organization that is non-profit conducts research into general general general public solution conditions that affect consumers. [more…]