Ontario Advisory Board

It looks like Ontario will have a rate cap decision by the end of September. On March 31st, they announced that an advisory board would determine the maximum cost of credit for payday loans in Ontario:

"The Ontario government is searching for an academic, a businessperson and a social advocate to form an independent advisory panel tasked with deciding how much it should cost to get so-called payday loans – short term, often used by people to make it to the next paycheque – in this province." (from the Toronto Star)

The posting for board members is now online: Ontario Public Appointments

"Board members will be appointed by Order In Council and will work a maximum of 40 days ending September 30, 2008."

The deadline for applications is April 25, 2008 - suggesting that the government already has some candidates in mind.