Bruce Hallsor
“Whether or not this is the best way for people to borrow money, it’s a legitimate option in the marketplace.”
Lawyer Bruce Hallsor believes payday loans are a choice that should be made available to people who have a poor credit rating and can’t get loans from banks…
In an article by Brennan Clarke, Bruce Hallsor also disagreed with Supreme Court Justice Brenda Brown‘s ruling that payday lender A-OK’s fees exceeded the maximum 60 percent APR allowed under Canadian law. He said it was unfair to apply the law to short-term loans:
“That section of the Criminal Code was intended to deal with loan sharking… If I charge you one per cent on a $100 loan for one week, that’s already 52 per cent a year.”
Bruce Hallsor is a Victoria lawyer representing lender A-OK Payday Loans.
Source: Payday Loan Companies Subject of Class-Action (Victoria News)
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