Ontario Cash Advance Consumers Even Worse Off Compared To 2018

January 6, 2021 No comments yet

Ontario Cash Advance Consumers Even Worse Off Compared To 2018

One in 10 cash advance stores shuts down, leaving hopeless customers with less choices.

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OTTAWA, ON – Ontario’s payday loan users are most likely worse off today than prior to the province capped loan that is payday rates and permitted cities to restrict and control the place of loan providers. A fresh Cardus report, The Changing Face of Payday Lending in Canada, discovers that because the price caps had been introduced in January 2018, one in 10 payday financing stores in Ontario have actually shut down – them all tiny, separate outlets.

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