Payday Loans Regulation in Ontario - Canadian Financial Forums

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		Canadian Financial Forums > Canadian Financial Forums > Personal Loans
Payday Loans Regulation in Ontario

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03-16-2009, 02:29 PM

trent

Senior Member

Join Date: Jun 2008

Posts: 387

Payday Loans Regulation in Ontario

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.

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