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Pay day loans ‘ungodly,’ Canadian finance committee chair says

Pay day loans ‘ungodly,’ Canadian finance committee chair says

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Parliament has issue with pay day loans.

“What’s the regular rate of interest on pay day loans? Its desperately, desperately high,” MP Wayne Easter (Malpeque, P.E.I.) stated Tuesday, based on Blacklock’s Reporter.

Pay day loans ‘ungodly,’ Canadian finance committee seat claims returning to video

Easter may be the chair that is liberal of Commons finance committee.

“You spend high charges. The fee may be comparable to mortgage of 500 or 600%. That’s usury. That’s ungodly.