Financial Services
Saskatchewan Payday Loan Rate Among Nation’s Highest; Will Hurt Most Vulnerable Consumers in Economic Downturn
Friday, Jun 18, 2010The Public Interest Advocacy Centre (PIAC) today condemned the Province of Saskatchewan’s proposed payday lending rate as amongst Canada’s highest. “The payday loan rate set by the Government of Saskatchewan is ludicrously high and will be taken 100% from vulnerable consumers,” said John Lawford, Counsel at PIAC. Saskatchewan’s $23 per hundred borrowed rate is only surpassed in Nova Scotia ...
Consumers Left Out in the Code
Tuesday, Jan 19, 2010(OTTAWA)— Consumers will face higher transaction costs and lose consumer rights in debit and credit payment transactions if the Minister of Finance’s Draft Code of Conduct for the Credit and Debit Card Industry in Canada is implemented, says the Public Interest Advocacy Centre. PIAC yesterday filed its comments on the draft Code, stating that: “Implementation of some of the Draft’s ...
Regulate Financial Planners in the Public Interest
Monday, Dec 14, 2009(OTTAWA)— The Public Interest Advocacy Centre (PIAC) called upon the provinces to regulate the practice of “financial planning” in a report released today entitled, “Holding The Purse Strings: Regulating Financial Planners.” PIAC’s report noted that the practice of financial planning in Canada is comprised of several self-regulating bodies, except in the province of Quebec where these services ...
New PIAC Report Studies Importance of Credit Cards to Canadians
Tuesday, Oct 27, 2009While credit cards have become a preferred and sometimes essential means of payment, a growing group of citizens cannot get access to a card. A new report by the Public Interest Advocacy Centre (PIAC) studies the consequences of not being able to obtain a credit card and the use of substitutes by such individuals. The report also provides a history of credit cards, an overview of the Canadian ...
Proposed Ontario Payday Loan Rate Astronomically High
Friday, Feb 06, 2009FOR IMMEDIATE RELEASE Attention: News and Business Editors February 6, 2009 Proposed Ontario Payday Loan Rate Astronomically High, Will Hurt Most Vulnerable Consumers in Economic Downturn (OTTAWA)— The Public Interest Advocacy Centre (PIAC) today condemned the Ontario Maximum Total Cost of Borrowing Advisory Board’s proposed payday lending rate as “astronomically high”. The report, ...