In this paper, Cardus continues its multi-year study for the cash advance market in Canada and evaluates which policies will work, that are not, and exactly just what yet continues to be unknown about pay day loans, customer behaviour, plus the effect of federal federal government legislation regarding the supply and need for small-dollar loans.
The payday financing market in Canada is evolving. Provinces across Canada have lowered rates of interest and changed the guidelines for small-dollar loans. The aim of these policies is always to protect customers from unscrupulous loan providers, also to minmise the possibility of borrowers getting caught into the cycle of debt. just just What did, and exactly just exactly what has not? In this paper, Cardus continues its multi-year research associated with pay day loan market in Canada and evaluates which policies will work, that are not, and just just what yet stays unknown about payday advances, customer behavior, while the effect of federal federal government legislation from the supply and interest in small-dollar loans.