Ontario’s Government Could Have Fixed The Payday Loan Industry

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Most people know that they should avoid payday loans, for one simple reason: The cost is very high. In Ontario a payday lender can charge up to $21 on each $100 borrowed, so if you get a loan until your next payday in two weeks, and do that 26 times in a year, you end up paying the equivalent of an annual interest rate of 546%. In an attempt to

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