PEI Comes on Board

Over the past 18 months, most Canadian provinces have been engaged in the process of launching payday loan legislation and determining maximum allowable rates. Manitoba, Nova Scotia, Ontario, Alberta, British Columbia, Saskatchewan and New Brunswick have all engaged industry and consumers to determine how best to develop effective regulations. Yesterday, PEI came on board by launching its own consultation initiative. Attorney General Gerard Greenan is seeking input by December 31st. Here is what you need to know:

Article: Province Seeks Opinions on Payday Loans
Consultation Document: here
Draft Legislation: here