Dijkema: Banning payday loan shops isn’t the answer
December 10, 2020 by admin
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Mayor Jim Watson concerns about a “glut” of pay day loan stores in Ottawa, and would like to split straight straight down in the true amount of outlets when you look at the town. Coun. Mathieu Fleury implies these supposedly short-term loans placed vulnerable people in “even tougher financial circumstances.” There’s reason enough to be worried. Research by the think-tank Cardus has unearthed that payday financing is correlated with physical physical violence, home criminal activity, increased need of social help and increased untimely mortality.
That’s not to imply that cash advance shops will be the reason behind these issues. Instead, payday financing is certainly one element of wider social challenges for the town and loan clients. Read more