Michael Franklin CTVNewsCalgary.ca Senior Digital Producer
Functioning on a pledge to finish loan solutions that keep numerous Albertans in a cycle that is vicious of, the NDP federal government has established it offers lowered the attention price on pay day loans and ended concealed charges and costs.
On August 1, the Alberta federal government lowered the rate from $23 per $100 lent down seriously to $15 per $100 lent, rendering it the cheapest borrowing price in the nation.
Due to the brand new legislation, payday loan providers also never be in a position to charge any charges to loan cheques, solicit by email or phone or provide another loan when a person is nevertheless outstanding. Weiterlesen