(Cash Before Payday) Alberta government quietly reviewing whether to regulate payday loan industry (CNews)
EDMONTON - Alberta is quietly looking at whether it should regulate the payday loan industry, but with the deadline for submissions only weeks away, some agencies that deal with the working poor were not even aware of the review. Without issuing a news release, the government posted its discussion paper proposal to regulate the industry March 17 on a the Service Alberta Department website. The Alberta discussion paper says the government must weigh the question of whether the industry fulfils a need for people who can’t get loans through banks and other financial institutions with the fees they charge for the service. Groups that advocate for and help the working poor, including the Edmonton Social Planning Council, Calgary Drop-In Centre, Catholic Social Services and other organizations, said they were not aware of the Alberta government’s review or invited to make submissions. Learn more
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