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New guidelines restriction location, wide range of cash advance organizations in Kingston

New guidelines restriction location, wide range of cash advance organizations in Kingston

The town of Kingston is taking actions to restrict the amount and location of pay day loan companies and also to teach customers in regards to the prospective disadvantage of using short-term, high interest loans.

In just one of their last functions prior to the municipal election, town councillors authorized a brand new bylaw on Oct. 2 that aims to manage pay day loan shops within municipal boundaries.

The modifications were permitted after the passage through of provincial amendments in Bill 59, which expands municipal authority over pay day loan establishments.

While Kingston has moved swiftly to impose local guidelines, Hamilton had been the very first town to control about 30 such companies running within its town limitations. Hamilton hopes to eventually whittle down the true number to 15.