In this paper, Cardus continues its multi-year research associated with the cash advance market in Canada and evaluates which policies will work, that are not, and just exactly what yet stays unknown about payday advances, customer behavior, as well as the effect of federal government legislation regarding the supply and interest in small-dollar loans.
Executive Overview
The lending that is payday in Canada is changing. Provinces across Canada have actually lowered rates of interest and changed the guidelines for small-dollar loans. The purpose of these policies would be to protect consumers from unscrupulous loan providers, and also to minmise the possibility of borrowers getting caught when you look at the period of financial obligation. Exactly exactly What spent some time working, and exactly just just what hasn’t? In this paper, Cardus continues its multi-year research associated with pay day loan market in Canada and evaluates which policies will work, that are not, and just exactly what yet stays unknown about pay day loans, customer behavior, and also the effect of federal federal government legislation in the supply and interest in small-dollar loans. Continue reading
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