In Canada, some grouped communities are clamping down вЂ“ difficult.
Final thirty days, Maple Ridge, B.C., banned new payday lenders from establishing shop. Surrey, B.C., amended its bylaw to need at the least 400 metres separation between payday storefronts, while Burnaby, B.C., is considering restrictions on areas and brand new outlets. вЂњTheyвЂ™re legalized loan sharks,вЂќ claims Burnaby city Councillor Nick Volkow.
Meanwhile, Nova Scotia tightened costs final thirty days, to $22 per $100 loan from $25, as a research indicated that over fifty percent вЂ“ and growing вЂ“ of these loans granted were duplicate loans.