News About the Ever-Changing Payday Advance Industry
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The British Columbia Payday Loan Association (BCPLA) called on the provincial government to hear witnesses on Bill 27, the Business Practices and Consumer Protection (Payday Loans) Amendment Act.
Federal legislation giving provinces the power to regulate the sometimes faxless payday loan industry has cleared its final hurdle.
Local MP Colin Carrie is working with his government to push provincial regulation of the no fax payday loans industry.
The Canadian Payday Loan Association is calling on provincial governments to set the maximum allowable charges and fees for regular and online payday loans at $20 per $100, or an equivalent maximum.
An Ontario judge has certified a class-action lawsuit against payday loan companies that claims their rates are excessive.