Lowering the Cost of Borrowing for Payday Loans in Ontario
Response from Cardus to Ministry of Government and Consumer Services
Ontario’s Ministry of Government and Consumer Services is seeking input and comment on whether to lower the cost of borrowing a payday loan and, if so, what the maximum total cost of borrowing should be. In particular, the government outlined a series of questions intended to guide responses. Here is the Cardus response.
For access to profitability analysis based on interest rates of payday loan providers, click here.