The newest Brunswick federal government has surprised pay day loan experts while the industry it self by proposing to restrict the sum total price of such loans to $15 for each $100 lent. This means that an average $300 loan would need borrowers to settle $345 on the next payday. The $15 price is found in draft laws posted this week from the federal government site.
вЂњThe regulations that have been released with regards to costs are particularly favourable for borrowers,вЂќ claims Randy Hatfield, executive manager for the Saint John Human developing Council. Read more →