View Full Version : Payday Loans Regulation in Ontario
trent
03-16-2009, 02:29 PM
Starting April 1st consumers taking out payday loans in Ontario can be charged a maximum of $21 for every $100 borrowed. The provincial officials announced that the new regulations were introduced to protect consumers. There is a new requirement for all payday loan lenders to be licensed.
bullish
03-17-2009, 02:32 PM
This is good news, and should have been done a long time ago. Payday loans are evil.
trent
03-18-2009, 01:40 PM
This is good news, and should have been done a long time ago. Payday loans are evil.
I also don't like payday loans, however government regulation is rarely good.
Canadian
03-24-2009, 02:38 PM
I also hate government regulation in general, but some things like payday loans and predatory lending need to be regulated or banned.
Steven
03-25-2009, 08:02 PM
I've never taken out a payday loan, but I know people who have and I also think that heavily regulating payday loans is a good thing.
bullish
03-26-2009, 02:30 PM
I also hate government regulation in general, but some things like payday loans and predatory lending need to be regulated or banned.
This is the only thing I agree with you on.
heyjude
04-08-2009, 07:35 PM
Payday loans are something that you should avoid taking at any cost. I hope I will never have to be forced to take a payday loan. It is good that there is a regulation now...
Canadian
04-09-2009, 01:12 PM
Payday loans are something that you should avoid taking at any cost. I hope I will never have to be forced to take a payday loan. It is good that there is a regulation now...
Keep in mind that regulation will drive the payday loan lenders out of the province. I don't like payday loans either, however I recognize the fact that some people might need them...
trent
04-21-2009, 08:31 PM
Keep in mind that regulation will drive the payday loan lenders out of the province. I don't like payday loans either, however I recognize the fact that some people might need them...
That's exactly my thinking - less regulation better results...
Canadian
04-27-2009, 03:27 PM
That's exactly my thinking - less regulation better results...
With the current economic conditions, we are likely to see more regulation than ever, which will only delay the recovery.
trent
04-28-2009, 06:53 PM
I don't see any hope for recovery in the next 1-2 years at least.
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