The town of Kingston is using actions to restrict the quantity and location of cash advance companies and also to teach customers about the possible disadvantage of using short-term, high interest loans.
In another of their last functions ahead of the municipal election, town councillors approved a brand new bylaw on Oct. 2 that aims to manage pay day loan shops within municipal edges.
The modifications had been authorized after the passing of provincial amendments in Bill 59, which expands authority that is municipal cash advance establishments.
While Kingston has relocated swiftly to impose regional guidelines, Hamilton ended up being the city that is first control about 30 such companies running within its town limitations. (more…)