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New regulations earned by the NDP federal government add up to a seismic shift for the pay day loan industry in Alberta, both experts and proponents regarding the guidelines consented Wednesday.
The Notley government took aim at exactly exactly what it called “predatory financing” this spring it the lowest rate in the country as it passed legislation lowering the maximum fee that can be charged by payday lenders from $23 per $100 to $15 per $100, making.
NDP presents brand new laws for cash advance industry back again to video clip
As a next thing, brand new guidelines that came into impact by the end of November now mandate instalment plans for loan payment, without any penalty for very early payback. (more…)
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