Manitoba PUB Report on Payday Loans Regulation
Manitoba’s Public Utilities Board (PUB) this week issued a report containing a series of recommendations to the Government of Manitoba on Manitoba’s payday loan regulations and the payday loan industry.
The report is the result of a public review and consultation process undertaken pursuant to the authority given the Board under s. 164 of The Consumer Protection Act and The Public Utilities Board Act.
Payday loans are extremely costly to borrowers. According to the accompanying news release:
A $17 fee on a two-week, $100 loan is equivalent to paying 442% annually as the cost of borrowing.
This seems particularly . . . [more]


