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Saskatchewan to Regulate Payday Loans

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Wednesday, 06 January 2010 17:24

Good news for Saskatchewan! This past December, a decision was made by the Provincial government which will regulate the business of payday lending in the province by capping the interest rate on borrowing.

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Vancouver Sun Calls New BC Payday Regulation 'Hogwash'

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Tuesday, 17 November 2009 22:20

A writer for the the Vancouver Sun in a recent article calls the latest BC payday Loan regulation 'Hogwash'.

"When it comes to payday loans, the new rules -- assuming they're ever enforced, as the old ones never were -- may rein in a few of the worst companies that persistently have violated the Criminal Code by charging 10-plus times the statutory limit of 60 per cent in annual interest"

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B.C. Limits Payday Loans

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Friday, 30 October 2009 00:00

As of November 1st 2009, The B.C. Government has implemented new regulation to stymie inflated and irresponsible lending practices.

Of note, lenders will not be able to lend more than fifty (50) percent of a potential borrowers average take-home pay.

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Alberta Announces New Payday Lending Rules

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Wednesday, 23 September 2009 00:00

Starting in September of 2009, Payday Loan Businesses in Alberta will be prohibited from charging more than $23 in fees and interest for each $100 borrowed.

Alberta Service Minister Heather Klimchuck was quoted as saying "This is a very good day for consumers in our province...We've heard from Albertans, we've listened and we've acted'".

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