Payday financing has been described as “cruel” and “predatory,” so that it’s no surprise the Ontario federal federal government is wanting at tightening laws all over industry along with other “alternative monetary solutions.” But gaps within the cap ability for low-income individuals to get loans they want suggest the province is not likely to adhere to the lead of neighbouring Quebec in efficiently prohibiting payday lending. Payday financing typically involves short-term loans – frequently a couple of of months – at high interest. Quebec has thrown a wrench into this enterprize model by refusing to give authorization to interest levels more than 30 % – prices too low for payday loan providers to use profitably within the province. Continue reading “Why Ontario will not split straight down on payday loan providers”
Under Construction – The solution to the Fermi Paradox