Seven years ago, Enterprise explored how the payday loan industry was affecting Ontarians.
The story revealed some startling statistics. Here’s an excerpt from the article, “Payday Pain”:
“Far too many credit union members – as high as 10 per cent or more – are applying for payday loans, according to Ottawa-based Whitelaw Public Policy Research and Consulting. And while the payday loan industry is notorious for setting up storefronts in lower-income areas, research also shows that members of all income levels make use of the product.” ◊