In this paper, Cardus continues its multi-year research of this pay day loan market in Canada and evaluates which policies will work, that aren’t, and exactly what yet continues to be unknown about interest rates on title loans payday advances, customer behavior, together with effect of federal government legislation regarding the supply and demand for small-dollar loans.
The payday lending market in Canada is changing. Provinces across Canada have actually lowered rates of interest and changed the principles for small-dollar loans. The aim of these policies would be to protect customers from unscrupulous loan providers, also to minmise the possibility of borrowers getting caught into the period of debt. Continue reading “The Changing Face of Payday Lending in Canada”