August 30, 2016 15:17 ET
TORONTO, ONTARIO--(Marketwired - Aug. 30, 2016) - ACORN Members are pleased to see the announcement by the Ontario government proposing lowering fees on Payday Loans to $15 on a $100 by 2018. ACORN members are hopeful that this will be just one step in comprehensive overhaul of the Canadian and Ontario government's movement toward financial inclusion. Other needed protections:
"$15 fee on $100 loan paid back in 2 weeks is still 390%; but is a good step in the right direction. Payday loans drag people into debt trap where they have to take out loan after loan to pay off the previous loan. I have used payday loans to get a monthly bus pass to look for work, they are a debt trap!" (Tina Ford, Ontario ACORN Board members)
Contact John Anderson Toronto@acorncanada.org 647 204 2767 in the GTA; or Jill O'Reilly email@example.com 613 808 56523 in Ottawa
ACORN Canada - the Association of Community Organizations for Reform Now, Canada - is among the nation's largest organizations of low- and moderate-income families, with over 83,000 members in more than 20 communities working together for social and economic justice.
ACORN CanadaJudy Duncan416 996 firstname.lastname@example.org
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