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#1
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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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#2
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This is good news, and should have been done a long time ago. Payday loans are evil.
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#3
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I also don't like payday loans, however government regulation is rarely good.
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#4
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I also hate government regulation in general, but some things like payday loans and predatory lending need to be regulated or banned.
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#5
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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.
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#6
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This is the only thing I agree with you on.
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#7
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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...
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#8
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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...
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#9
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That's exactly my thinking - less regulation better results...
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#10
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With the current economic conditions, we are likely to see more regulation than ever, which will only delay the recovery.
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