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Public Notice: Cash Advance Establishment Licensing Review

Public Notice: Cash Advance Establishment Licensing Review

Venture Overview

Due to modifications to your Ontario pay day loans Act, 2008, additionally the Municipal Act, 2001, City Council directed staff when you look at the crisis and Protective Services department to assess the potency of a licensing that is municipal for pay day loan establishments, after an initial planning and zoning review carried out because of the preparing, Infrastructure and Economic developing division to handle the expansion and clustering of those establishments (see reference below). This overview describes the range regarding the licensing review and offers information about how residents, regional organizations, and community businesses can add feedback to greatly help inform policy choices.

Background

An online payday loan is just a short-term, tiny value loan in return for the next payment, typically become paid back because of the borrower’s pay cheque that is next.

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