As pay day loan store fronts continue to pop up in communities all over southern Ontario, a London MP has seconded a motion that would limit those lenders from charging interest rates she says are exorbitant.
Some vendors charge as much as $15 for a $100 loan, an annual interest rate of 391%.
London-Fanshawe New Democrat Lindsay Mathyssen spoke to Blackburn News Podcast host Craig Needles about Bill C-274 and the limits she'd like to see put on pay day lenders.
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