Advisory Board Gets Down to Work in Ontario

Originally, the word was that Ontario would select an advisory board of three members to provide a recommendation to the Minister on the maximum allowable charges for payday loans in that province and they would finish their work by September 30th (original post). According to this Government of Ontario website, the board is now comprised of two members and they will be receiving submissions from the public until October 31st. There is no clear indication of when their work will be completed.

Payday loan users and industry members who are interested in providing the board with their two cents on maximum allowable payday loan rates in Ontario, should do so according to the guidelines laid out here.