Ontario to Tighten Pay Day Loans January 1, 2019

December 19, 2017
Ontario Lowering Rates for Payday Loans and Other Services
Ontario is protecting vulnerable consumers by reducing the cost of borrowing and other fees for alternative financial services such as payday loans.Beginning on January 1, 2018:
The cap on the cost of borrowing for payday loans will be reduced to $15 per $100 borrowed from the current level of $18.
Ontario municipalities will be allowed to restrict the areas in which payday loan shops open and the number that can