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Pay day loans ‘ungodly,’ Canadian finance committee chair says

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Parliament has issue with payday advances.

“What’s the interest that is regular on payday advances? It really is desperately, desperately high,” MP Wayne Easter (Malpeque, P.E.I.) stated Tuesday, based on Blacklock’s Reporter.

Payday loans ‘ungodly,’ Canadian finance committee seat claims back again to movie

Easter may be the chair that is liberal of Commons finance committee.

“You spend high costs. The price may be comparable to mortgage loan of 500 or 600%. That’s usury. That’s ungodly. I’m sure they’re appropriate but, man, we’ve got to accomplish one thing about this,” Easter said. Read more »