New rules restriction location, quantity of cash advance organizations in Kingston
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The town of Kingston is using actions to restrict the quantity and location of cash advance companies also to educate customers concerning the possible disadvantage of using short-term, high interest loans.
In just one of their last functions ahead of the election that is municipal town councillors approved an innovative new bylaw on Oct. 2 that aims to manage cash advance shops within municipal edges.
The modifications had been permitted following passing of provincial amendments in Bill 59, which expands municipal authority over pay day loan establishments.
While Kingston has relocated swiftly to impose regional guidelines, Hamilton had been the very first town to control about 30 such companies operating within its city restrictions. Hamilton hopes to eventually whittle down the number to 15. Other towns and cities are considering comparable bylaws.
WATCH: Hamilton seeking to limit spend day loans organizations