Sandy Shaw MPP, Hamilton West–Ancaster–Dundas

Government of Ontario

Pay Day Lending

I've introduced Bill 234 the Payday Loans Accountability Act to ensure enhanced protection for people who are using payday loans. It’s important now, especially during COVID-19, when people are really struggling with their finances. We want to ensure that these borrowers are protected.

Read the Bill Here: https://www.ola.org/en/legislative-business/bills/parliament-42/session-1/bill-234

WHEREAS the Covid-19 pandemic has create more financial precarity in Ontario and driven Ontarians to borrow money from payday lenders to make ends meet;

WHEREAS too many payday lenders trap borrowers in cycles of debt through exorbitant interest rates and a lack information;

WHEREAS borrowers deserve a universal capped interest rate and stronger standardized industry regulations; 

THEREFORE we the undersigned petition the Legislative Assembly of Ontario, that the government immediately pass the Payday Loans Accountability Act which would cap interest rates, establish a Borrower’s Bill of Right and a Payday Loans Taskforce to give borrowers the protection they need.

58 signatures

Will you sign?