(Photo courtesy of © Can Stock Photo / devon.)(Photo courtesy of © Can Stock Photo / devon.)
London

AUDIO: MP hoping to ban high pay day loan interest rates

As pay day loan store fronts continue to pop up in communities all over southern Ontario, a London MP has seconded a motion that would limit those lenders from charging interest rates she says are exorbitant.

Some vendors charge as much as $15 for a $100 loan, an annual interest rate of 391%.

London-Fanshawe New Democrat Lindsay Mathyssen spoke to Blackburn News Podcast host Craig Needles about Bill C-274 and the limits she'd like to see put on pay day lenders.

[audio mp3="https://blackburnnews.com/wp-content/uploads/2021/03/MathyssenFinal.mp3"][/audio]

 

 

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