The Saskatchewan Government has proposed payday loan legistation.
The proposed legislation will:
- Payday lenders will need to be licensed
- Maximum fee limits will be established
- Fee must be provided for in the regulations
- Borrowers can cancel a loan before the end of the next business day
- 1 loan per borrower at a time
- Loans cannot be contigent on purchasing other loans or services
- lenders myst follow The Collection Agents Act
- Lenders may not require future wages to be signed over
- Loan maximums are tied to a borrowers pay
SK Payday Loan Cities
- Saskatoon Payday Loans
- Regina Payday Loans
- Prince Albert Payday Loans
- Swift Current Payday Loans
- Flin Flon Payday Loans
