brand New, reduced optimum prices for pay day loans now set up across

brand New, reduced optimum prices for pay day loans now set up across

The most charge that is allowable including all costs – for an online payday loan in British Columbia has become $17 for every single $100 lent, rendering it the second-lowest price in Canada.

Decreasing the sum total allowable fee to $17 from $23 builds on laws the Province applied during 2009.

Before then, borrowers paid no matter what lender charged – just as much as $30 per $100 borrowed and had restricted defenses and recourse against harmful lending methods.

Mike Morris, Minister of Public protection and Solicitor General, stated the changes had been greatly needed and certainly will assist lots of this province’s less fortunate residents. Continue reading “brand New, reduced optimum prices for pay day loans now set up across”

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