Behind the figures. Ontario cash advance reforms: a fall in the bucket

Behind the figures. Ontario cash advance reforms: a fall in the bucket

We did the Mathematics

By Tom Cooper

The Ontario federal government has established some modest reforms to reduce the interest that is outrageous charged to clients of pay day loan businesses.

Many individuals who count on pay day loans don’t have any other spot to submit a monetary crisis and within the last two decades, the cash advance industry was just too desperate to victim on desperation.

There are many more than 800 payday lending outlets in Ontario and each 12 months between $1.1 and $1.5 billion in payday advances are given to 400,000 individuals in this province. weiterlesen →