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Regulation of Payday Lending in Canada - ACORN Canada

Regulation of Payday Lending in Canada

Resource Type: Fair Banking

ACORN Canada engaged me to determine an appropriate fee structure for payday lenders that would reduce the current very high rates while still allowing at least some of the companies to continue to operate. This fee structure should replace the current rule of 60% maximum interest contained in the Criminal Code, thus allowing mainstream financial institutions to compete in the short-term lending field legally.

Posted July 9, 2015

 

 

Regulation of Payday Lending in Canada

Regulation of Payday Lending in Canada Download Resource