Lowering Interest Rates On Payday Loans Is Not Enough

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Recently the Ontario government asked for comments on potential reductions in the maximum total cost of borrowing a payday loan in Ontario. In particular, the Ministry was recommending that the cost be reduced from the current $21 per $100 advanced, to either $15 per $100, $17 per $100 or $19 per $100. Obviously, the lower the cost, the better for

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