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Let me make it clear about Banning payday loan shops isn’t the answer

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Mayor Jim Watson concerns in regards to a “glut” of cash advance stores in Ottawa, and desires to break straight down regarding the quantity of outlets in the town. Coun. Mathieu Fleury indicates these supposedly short-term loans put susceptible people in “even more difficult financial circumstances.” There’s cause to be worried. Research by the think-tank Cardus has unearthed that payday financing is correlated with violence, home criminal activity, increased need of social help and increased mortality that is premature.

That’s not saying that cash advance stores will be the reason for these issues. Instead, payday financing is certainly one element of wider social challenges for the town and loan clients. It’s essential Ottawa Council use the right action to handle it. Incorrect techniques could harm the people whom need probably the most assist.

Dijkema: Banning payday loan shops isn’t the clear answer returning to video clip

Let’s have one fact straight: When individuals with bad (or no) credit are in need of money, they’ll find methods for getting it. Continuer la lecture