Toronto no more providing brand new licences to ‘predatory’ pay day loan outlets

Toronto no more providing brand new licences to ‘predatory’ pay day loan outlets

Toronto no more providing brand new licences to ‘predatory’ pay day loan outlets

Major change that is regulatory through unanimous 20-0 vote on Wednesday evening

Starting immediately, Toronto will not be issuing any licences that are new cash advance outlets amid issues the firms are “predatory” toward low-income residents.

The main regulatory change had been authorized via a unanimous 20-0 vote from council on Wednesday evening, alongside big money of guidelines about the town’s controversial pay day loan industry. Read more about Toronto no more providing brand new licences to ‘predatory’ pay day loan outlets