Ontario is moving to strengthen protections for payday loan customers by reviewing the Payday Loans Act.
The review of this 2008 legislation comes in response to a number of changes in the rapidly evolving payday loan industry, including the emergence of online transactions, smartphone-enabled loan approvals and new forms of high-cost, short-term loans. The review of Ontario's Payday Loans Act, 2008, will:
Protecting Ontario consumers is part of the government's plan to ensure a fair marketplace and help people in their everyday lives.
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