The city of Kingston is taking actions to restrict the amount and location of cash advance companies and also to teach customers in regards to the prospective disadvantage of using short-term, high interest loans.
In just one of their final functions prior to the election that is municipal town councillors authorized an innovative new bylaw on Oct. 2 that aims to manage cash advance shops within municipal edges.
The modifications had been authorized after the passing of provincial amendments in Bill 59, which expands municipal authority over cash advance establishments.
While Kingston has relocated swiftly to impose regional guidelines, Hamilton ended up being the very first town to control about 30 such companies running within its town restrictions. Hamilton hopes to eventually whittle down the number to 15. Other urban centers are considering comparable bylaws. (more…)