Thriving in NWT
September 29, 2010 | international | Comments (0)In an unregulated environment. From the story:
Payday loan companies have found a profitable new home in the Northwest Territories, but some people have encountered problems with the small short-term loans that come with sky-high interest rates.
The payday loan industry is not regulated in the N.W.T., which has left some borrowers facing annual interest rates far above the Criminal Code limit of 60 per cent.
I’m guessing the NWT will eventually develop the consumer protections found in other provinces.
Comments»
No comments yet.