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Home » We Blog » Bill 156 – Is This The Cash Advance Regulation We Want?

It’s no key that pay day loans charge an interest rate that is outrageously high. In Ontario, at the time of 2018, payday loan providers may charge $15 for $100. You would pay $390 a year, that’s an interest rate is 390% on an annual basis if you take out a new $100 loan every two weeks. And therein lies the issue with one of these forms of loans. But just what could be the solution?

A Research and Parliamentary Analyst at the Public Interest Advocacy Centre (PIAC) about Bill 156 and pay day loan regulation on today’s podcast, I speak with Jonathan Bishop. (more…)

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