The Changing Face of Payday Lending in Canada

The Changing Face of Payday Lending in Canada

In this paper, Cardus continues its multi-year research associated with the cash advance market in Canada and evaluates which policies will work, that are not, and just just exactly what yet stays unknown about pay day loans, customer behavior, as well as the effect of federal federal government legislation regarding the supply and interest in small-dollar loans.

Executive Overview

The payday financing market in Canada is changing. Provinces across Canada have lowered interest levels and changed the guidelines for small-dollar loans. The purpose of these policies would be to protect customers from unscrupulous loan providers, also to reduce the possibility of borrowers getting caught when you look at the period of debt.Continue reading