Canadians deserve better- Experts decry outrageous

2022-04-05
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'Canadians deserve better': Experts decry 'outrageous' interest rates by alternative lenders | CBC News - Today News Post News Today || Canada News |

A senator and a prominent mortgage industry executive are calling on the federal government to crack down on lenders who charge sky-high interest rates to Canadians desperate for cash, after a Marketplace hidden camera investigation found questionable business practices among a number of alternative financial institutions.re admitting i?

The investigation into CashMoney, Easyfinancial, Fairstone Financial and Money Mart reveals confusing and misleading representationsfullWindowGenericImage, and a lack of transparency and documentation.?

“It’s an abusive financial process that needs to be curtailed,” Sen. Pierrette Ringuette told CBC Marketplace.

The Marketplace investigation found lenders offering personal loans at rates up to 46.96 per centWhen it comes to vaccines, it is only fair fo, in an era when interest rates are at historic lows.?Bank of Canada rates are now below one per cent

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