If elected, the NDP Leader wants to crackdown on payday lenders who he believes are ripping people off…
Dominic Cardy made an announcement in Dieppe this morning….He says interest rates of 60 per cent are unfair and should be illegal..
“We have to protect consumers. In this case, often people who are low income, fixed income, people who are between jobs from the predatory practices of payday lenders. Charging people 800 or 900 per cent on a two week loan is unacceptable, and it’s unfair.”
Cardy says if elected, his party will introduce a law to stop these high interest loans, and will offer protection for the most financially vulnerable.
