Wednesday, April 24, 2019 at 11 AM – 12 PM
Fairstone (4361 Kingsway, Unit #3, Burnaby, British Columbia)
ACORN's Fair Banking campaign is about to get something very cool to happen. The BC Government has introduced legislation that would license high-interest lenders, enabling them to cap the interest rates - which legally can be as high as 60% in Canada!
Right now non-bank lenders like Fairstone are unregulated when they give out loans over $1500.
On April 24th we are targeting a Fairstone branch near Metrotown. Fairstone is a high-interest lender, giving loans up to $20,000 at rates as high as 59% (after hidden fee's, scams, and other predatory lending tactics).
Fairstone was recently rebranded from CITI Financial. Why? CITI Bank was a leader in screwing over American's with predatory mortgages. They had to pay penalties of over $7 Billion for their role in financially destroying millions of American's. Their name is trash, cause they are trash, so they renamed their high interest loan outlets Fairstone.
ACORN's campaign for Fair Banking is putting Fairstone on notice that their days of unregulated lending are coming to an end.
BC ACORN is a leading stakeholder with the provincial for working class borrowers. We are fighting to ensure that the government follows through and regulates these loan sharks.
Burnaby, BC V5H 1Z9