Share this Mister Wong Digg Del.icio.us Slashdot Furl Yahoo Technorati Newsvine Googlize this Blinklist Facebook Wikio Print E-mail Tags payday loans payday lending payday loan

The Canadian Payday Loan Association (CPLA) was previously known as the Canadian Association of Community Financial Service Providers and was created in early 2004 for the payday lending industry. The CPLA has 22 member companies that operate 532 outlets in Canada. While serving as an industry organisation, the CPLA is unique in its call for regulation that protects borrowers while ensuring a viable industry.

Services offered by the CPLA

The CPLA offers a guide for consumers on how they can be responsible borrowers. And for payday loan borrowers who have complaints, the CPLA has its Consumer Response and Resolution Bureau. Lastly, this organisation also provides credit counselling services.

Board of directors and members of the CPLA

The chairman and treasurer of the CPLA is Sydney F. Franchuk. The directors are Doug Forbes, Amir Mahmoudzadeh, Kevin Tompkins, Tim Latimer, David M. Robertson, Norman J.K. Bishop, and Stan Keyes. Stan Keyes is the CPLA and he is assisted by Executive Assistant Marian Ross and Consumer Affairs Officer Tanya Watson. The members include Ark Capital, 1461350 ONT LTD, Cash 4 You, Brant Loans 'Til Payday, Cash Now Hamilton Mountain, Cash Canada Group, Dash into Cash, CashNow Solutions, Irvin Money Mart, EZ Cash Advance, National Cash Advance, and Money Mart.

Purpose of the CPLA

The goal of the CPLA is to work with provincial and federal governments for the establishment of a regulatory framework to protect the rights of consumers while ensuring that the industry is viable. This association wants payday loans to act as temporary solutions for cash flow problems. As such, it wants to ensure that these loans are economical and convenient but warns consumers that it is not a long-term solution.

Add comment

Name (required)

E-mail (required)

Notify me of follow-up comments

Refresh

Send

Cancel