Ontario’s Government Could Have Fixed The Payday Loan Industry

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

Read more http://www.huffingtonpost.ca/douglas-hoyes/ontario-government-payday-loans_b_11793186.html?utm_hp_ref=canada-politics&ir=Canada+Politics