Stop licensing pay day loan shops, committee informs Toronto town council

Toronto’s basic federal government and licensing committee decided Wednesday that the town should stop issuing licenses to brand brand new pay day loan stores.

“These are in areas where residents are extremely vulnerable,” said Ward 5 Councillor Frances Nunziata, including that the number that is large of loan web web sites are found in her own cycling of York South-Weston.

“We need to get a handle on them.”

The concluding decision will depend on city council, where it really is planned for debate on Oct. 2, however it had the unanimous help of councillors in the licensing committee, including Councillor Stephen Holyday, (Ward 2 Etobicoke Centre) whom said he voted from the movement merely a technicality — he does help regulating cash advance companies. (بیشتر…)