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5) Provinces are in charge of legislating Payday Loan Companies even though Banking is under Federal Jurisdiction. They charge interest rates that most would consider

5) Provinces are in charge of legislating Payday Loan Companies even though Banking is under Federal Jurisdiction. They charge interest rates that most would consider criminal. Ontario has put a ban on any new Payday loan company opening.

a- Do the laws in place balance the interest between lenders borrowers and the public?

b- Do you think Payday loans should be allowed at all?Why or why not?

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