In this paper, Cardus continues its multi-year research of this cash advance market in Canada and evaluates which policies will work, that are not, and just just what yet continues to be unknown about pay day loans, customer behaviour, additionally the impact of federal federal government legislation in the supply and demand for small-dollar loans.
The lending that is payday in Canada is evolving. Provinces across Canada have lowered interest levels and changed the guidelines for small-dollar loans. The purpose of these policies is always to protect customers from unscrupulous loan providers, also to reduce the possibility of borrowers getting caught within the period of financial obligation. Continue reading