Alberta to cut interest costs, broaden repayment rules on payday advances

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Alberta is following through to suppress exactly what it terms exploitative behavior by pay day loan organizations, however a spokesman for the industry claims the modifications are incredibly extreme they are going to do more damage than good.

Provider Alberta Minister Stephanie McLean introduced legislation Thursday that will enforce reduced interest expenses and broaden repayment guidelines.

Alberta to cut interest costs, broaden repayment rules on payday advances Back to video clip

“These modifications will considerably reduce steadily the interest that is annual for pay day loans,” she told reporters just before launching a bill when you look at the legislature. Read more ›

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