Media Advisory: ACORN Canada: Overdue Policy Review of Payday Loan Act a Chance to Truly Protect Consumers
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 09/12/13 -- The announcement by the Ministry of Consumer Services is welcomed by ACORN Canada.
Spokesperson Edward Lantz of Toronto ACORN stated after learning about the policy review: "As an organization of low-to-moderate income people in Ontario, it is common for ACORN members to come to meetings with horror stories about getting suck into a traps at a payday lender. Our people still get roll over loans, they are still ripped off with extra hidden fees, they still pay usurious rates, and payday loans are a very much still a predatory financial product that drains money out of our communities. While we are proud that we were influential in getting the Payday Loan Act passed in 2008, we knew then what we know now: The act needs to do a better job really protecting Ontarians."
ACORN Canada recommended to the Ministry of Consumer Services in lead up to the passing of the Act:
ACORN Canada will be playing a central role for Ontario payday loan consumers during the policy review and will be further studying recommendations for the Ministry to follow.
Contacts:
John Anderson
647 204 2767
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Datum: 12.09.2013 - 14:39 Uhr
Sprache: Deutsch
News-ID 296118
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