Judy Wasylycia-Leis
“People who are most vulnerable — on the low end of the income scale — are often targeted by payday lenders. And this hasn’t been a high enough priority.”
Canadian MP Judy Wasylycia-Leis has lobbied for federal regulation of the payday loan industry for years but believes the issue has not been a high political priority because it affects people with a low income and exists in a legal gray area…
Wasylycia-Leis believes that the issue exists in a jurisdictional gray area because the federal government controls rates of interest but consumer protection lies in the hands of provincial governments.
Wasylycia-Leis was also quoted as saying:
“Unlike any other area, we’ve left people to the whim of a completely unregulated marketplace. It takes a political will that has been lacking, and it takes the provinces getting their act together.”
Judy Wasylycia-Leis is the MP for Winnipeg North in Manitoba, Canada.
Source: Ottawa to Introduce Bill to Regulate Payday Loan Industry (CBC)
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