Industry Reaction to Ontario Payday Loan Legislation

CPLA - Canadian Payday Loan Association Applauds Ontario Payday Loan Legislation:

"This legislation is an important step forward for real consumer protection in Ontario.'" - Stan Keyes, President of the CPLA

Dollar Financial - Money Mart Welcomes Ontario Legislation on Payday Loans:

"'We welcome this important legislation and share the Government of Ontario's commitment to balancing consumer protection with a viable industry that will continue to provide this important financial service at a reasonable rate.'" - Syd Franchuk, Chairman of National Money Mart

The Cash Store Financial Services (formerly Rentcash) - Cash Store Financial supports Ontario's balanced approach to payday regulation:

"'In Ontario, the debate on new industry rules has been balanced and reasonable. Everyone agrees, including the United Way, that payday loans are a needed product that must be made available to consumers. With strong consumer protection measures now in place, the government must set rate limits that will enable existing operators to remain profitable and able to provide the service.'" - Gordon J. Reykdal, Chairman and CEO of The Cash Store Financial Services