B.C. toughens rules and certification on instalment loans. The B.C. federal government desires to…

B.C. toughens rules and certification on instalment loans. The B.C. federal government desires to…

The B.C. federal government would like to produce rules that are new lenders whom provide instalment loans, under legislation introduced Tuesday. An insurance coverage business happens to be bought to prevent offering policies through two payday loan providers and offer refunds after a study by B.C. regulators. Photo by Graham Runciman / National Post Files VICTORIA — The B.C. federal federal federal government really wants to create rules that are new loan providers of instalment loans, under legislation introduced Tuesday.

Solicitor-General Mike Farnworth stated proposed modifications into the customer security law will generate a licensing and enforcement system for companies that provide instalment loans, as well as ban some methods the national government considers unjust. Read more