One out of 10 loan that is payday shuts down, leaving hopeless customers with less choices.
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OTTAWA, ON вЂ“ OntarioвЂ™s payday loan users are most likely worse off today than prior to the province capped cash advance interest prices and permitted cities to restrict and manage the place of lenders. A brand new Cardus report, The Changing Face of Payday Lending in Canada, discovers that considering that the price caps had been introduced in January 2018, one in 10 payday financing stores in Ontario have actually shut down вЂ“ all of them tiny, separate outlets. A few metropolitan areas have restricted the amount of pay day loan outlets permitted within their jurisdiction, including Toronto, Ottawa, Kingston, and Kitchener. Continue reading →