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Manitoba Moves To Regulate Payday Lending First Of Its Kind
Manitoba Finance Minister Greg Selinger unveils amendments to the Consumer Protection Act to regulate payday lenders. Lenders must be licensed and bonded, warn borrowers of high costs, and face PUB overseen fee limits. Borrowers gain 48 hour loan cancellation and the Manitoba Consumers' Bureau gains inspection rights. Public hearings will shape PUB fee orders.
MENTIONED IN THIS ARTICLE
Manitoba
Finance
Greg Selinger
Selinger
Public Utilities Board
PUB
Manitoba Consumers’ Bureau
Consumers’ Bureau