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NDP Proposes Option To Pay Day Loans

NDP Proposes Option To Pay Day Loans

Susan Leblanc, the NDP MLA for Dartmouth North, has introduced a bill that could begin to see the provincial government guarantee online payday loans Louisiana personal, short-term, ???micro-loans??? for amounts as much as $2,000 from credit unions.

We talked to Leblanc briefly, by phone, on Friday and she explained the guarantee is comparable to the only the province now offers small company loans from credit unions. The concept, she stated, will be offer an alternate to payday advances ??” the short-term loans supplied by payday loan providers (like Money Mart and EasyFinancial and cash Direct while the Cash Store) at usurious rates in this province. ( Both lenders that are payday credit unions are managed by the province, unlike banking institutions that are under federal legislation.)

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