Pay Day Loans Act

Please note: Please note that since this webinar was prepared, additional consumer protections have been enacted. For more information about these important new protections for consumers, please see the website of the Ministry of Consumer Services. Recorded on September 13, 2010 - This webinar is presented by Margaret Capes, Legal Education Coordinator of Community Law School (Sarnia-Lambton) Inc. Many Ontarians rely on pay day loan companies to tide them over between pay cheques. For a fee, these businesses will provide a cash advance in exchange for a promise to repay the loan once the pay cheque is due.  Until recently, these pay day loan companies were largely unregulated in Ontario and sometimes charged excessive administration fees and interest charges. New legislation now protects borrowers from high fees and requires cooling off periods, written contracts, and clear advertising regarding the rights and responsibilities of both lenders and borrowers. This webinar focuses on consumers' rights under the Pay Day Loans Act and ways to enforce them through the courts and the Ministry of Consumer Services.

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