National Day of Action on Fair Banking, End Predatory Lending

ACORN has been fighting to demand fair banking for years. ACORN members are tired of going to predatory lenders such as Easy Financial, Money Mart, Cash Money and others as banks deny services to low- and moderate-income people. Last year, the feds launched a consultation to crack down predatory lending – ACORN won this! More than 600 ACORN members sent submissions to the feds to demand lowering of the interest rate for installment loans.

Right now, lenders can charge an annual interest rate of 60% plus insurance, fees etc. for installment loans. These loans vary anywhere between $1,500 to $15,000 and more!

The federal consultation ended in October 2022 but there has been no action since then. There is no definitive timeline or announcement as to what action will be taken to end predatory lending.

ACORN members are doing actions to tell the feds that we need urgent action. People have been struggling, feds need to act NOW!

Alberta
Cash money located at 3504 17th Ave in Forest Lawn at 11 am.

BC
Office of Surrey Central MP, Randeep Sarai located at 10362 King George Blvd at 11 AM. From there, march up a few blocks to predatory lenders including Money Mart, Easy Financial and Cash Money.

Hamilton
Money Mart located at 15 King St. East at 11 AM

London
Money Mart located at 489 Wellington St. at the corner of Wellington/Commissioner at 12 PM

Ottawa
Walking Debt Tour at Dundonald Park located at 516 Somerset St. W. March to Easy Financial and Cash4You before making a stop at the Prime Minister's Office.

Peel
Office of Liberal MP, Peter Fonseca (Cooksville-East) located at 980 Burnhamthorpe Road at 4 PM. From there, members will be going to Money Mart located a few meters away from the MP’s office.

New Brunswick
Fair Strone (formerly known as CitiFinancial) located at 300 Main St., Moncton at 1 PM.

Toronto
Members will be meeting at 1 PM at Money Mart located at 1533 Jane St #2, North York, ON M9N 2R2, corner of Jane & Trethewey Dr. From there, walk to six other installment and payday loan lenders (seven total – will take 7 minutes) and finally ending our walk at the constituency office of Liberal MP and Minister Ahmed Hussen (York South-Weston).

Join us to demand fair banking! Need more information? Contact us at organize@acorncanada.org or your local office.