Anti-poverty groups urge a national law, while regulation now falls to the provinces. A U.S. government clampdown on payday lenders has sparked anti-poverty groups to call for similar consumer protections in Canada, where regulation of what they call predatory loans falls to individual provinces.
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Still have a question? Ask your own! The industry should be regulated at the federal, and not the state, level as too many manhandles have slipped past overworked and periodically corrupted state level officials. In other languages Eventually fresh Payday Loan regulations are on the way and should be unveiled today.