18 Aug Proposed bill gives Alberta cheapest payday loan prices in nation
Province announces information on crackdown on 'predatory" interest levels of 600 % or maybe more
The costs in Alberta for payday advances is the cheapest in Canada if MLAs pass proposed legislation introduced into the legislature Thursday.
Bill 15, a work to get rid of Predatory Lending, provides the quantities compensated on these kind of loans from $23 per $100 lent right down to $15 per $100.
More measures when you look at the bill seek to keep folks from being caught in a period where they should just take another loan out merely to repay a youthful pay day loan.