Stricter rules force closure of Alberta payday lending stores

Payday loan licences have dropped by more than one-quarter since the NDP government enacted stricter rules for lenders in 2016 and more brick-and-mortar stores could be shuttering over the next 12 months, warns the president of the industry association.
Prior to Bill 15, also known as the Act to End Predatory Lending, payday loan companies had about 230 licensed stores in Alberta.
But as of two weeks ago, that number had dropped to 165, Canadian Consumer Finance Association president and CEO Ton