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for pay day loan borrowers by capping rates of interest and costs on defaulted loans.
“It’s the first rung on the ladder,” North Bay deputy mayor Tanya Vrebosch states, noting the maximum rates of interest charged by the businesses are “very costly, as near up to a loan shark as you possibly can get.”
The modifications are within the COVID-19 Economic Recovery Act, 2020, tabled by the Doug Ford federal government. Read More …