ACORN releases a New Report on High Interest Loans

Posted on February 17, 2021

ACORN Canada released a new report on High Interest Loans today. The findings are from a nationwide survey to understand the experiences of consumers of high interest loans (Loans with interest rate from 25% - over 500%), especially when they are taken out online. The study findings are based on 376 survey responses. We also conducted a legislative scan to map the extent to which there are protections for consumers of high-interest loans at the federal and provincial levels.

The study finds a surge in the usage of installment loans, and growth in high-interest online loans.

Read the summary of the report here

To read the full report in English, click here

Pour le reportage en français, cliquez ici 

 

Join us for the virtual report release today at 6:30 PM EST.

Register here: http://bit.ly/EndPredatoryLending

For local in-person actions, click here

The recommendations from the study call on the Federal Government to create a national multi-jurisdictional anti predatory lending strategy to protect low-income and other vulnerable consumers from predatory lending practices and enhance their access to fair banking options. ACORN has been fighting for more than a decade to fight for fair banking at national, provincial and local levels. 

We can win more! #fairbanking4all

Tell Chrystia Freeland and Justin Trudeau to End 2 Tier Banking! Join our online action, send a quick letter to the Prime Minister, Finance Minister and your local MP to demand fair banking for all. Click here

 

 

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