Government Looking Into The Cost Of Payday Loans

Durham, ON, Canada / channel12

The province wants to get opinions on how much borrowers should pay for a payday loan.
Currently, the maximum cost in Ontario is 21 dollars per 100 dollars borrowed.
The government says that’s the second-lowest cost in Canada — but among the highest in North American.
Alternatives being proposed by the government are 15, 17 or 19 dollars per 100 dollars borrowed.
    Feedback can be provided online (at http:/ until May 20th. (The Canadian Press)

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