Lowering Interest Rates On Payday Loans Is Not Enough

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

Read more http://www.huffingtonpost.ca/douglas-hoyes/lowering-interest-rates-o_b_10128280.html?utm_hp_ref=canada-politics&ir=Canada+Politics