Promoting a Flourishing Society

Lowering the Cost of Borrowing for Payday Loans in Ontario

May 27, 2016
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.

Banking on the Margins

, here is the Cardus response.

For access to profitability analysis based on interest rates of payday loan providers,

click here

(Excel macro).

Topics: Payday Loans