This report surveys the literature and relevant national surveys, and identifies key consumer issues, in relation to payday lending. It also reports on a mystery shopping and a mapping of payday lenders in Winnipeg.
Forced to make ‘hard choices’ | Canadian Mennonite Magazine
Drawing on Mayer the report finds that there is limited and mixed evidence on whether payday lenders exploit or serve consumers. Drawing on national surveys the report found that payday loan clients come from across the income spectrum but are disproportionately located below average income.
- About the Neighbourhoods!
- Solstice.
- The Universe Within;
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- The Globe and Mail;
Mystery shopping found that information was often not readily available or understandable. Mapping of payday lenders found them largely concentrated in Winnipeg and within the city they are more densely found in the inner-city and lower-income suburban neighbourhoods. This brief considers how market competition is at work in the payday loan market in the state of Missouri and the implications for Manitoba.
Revised 3 May This report was prepared for submission to the Public Utilities Board PUB in preparation for a hearing to determine allowable fees for cashing government cheques.
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Under The Consumer Protection Amendment Act Government Cheque Cashing Fees of June the PUB has been given the mandate to hold hearings with interested stakeholders and to establish an allowable fee limit for cashing cheques from federal, provincial, provincial agencies and municipal governments by any firm cashing a cheque in Manitoba. This new regulation is part of a series of steps that the Manitoba government is taking to address challenges and gaps in the fringe financial sector. The author of the report was retained by the Public Interest Law Centre on behalf of the Consumers Association of Canada Manitoba Branch and the Manitoba Society of Seniors to prepare a report on the social and economic factors that lead people to rely on cheque-cashers and on the costs, returns and risks faced by fringe bank cheque-cashers.
By Jerry Buckland, 19 December Bibliography on Financial Exclusion.
Jerry Buckland
About the Project Financial exclusion — the inability to access appropriate financial services — is a social problem attracting greater attention recently. Community Banking Projects for Low-income Canadians: Maps by Brian R. Christopher House, Toronto, 2 March NEW Passing the Buck? Money Management on a Shoestring: Rate Regulation for Payday Loans in Manitoba: Before the Public Utilities Board.
Jerry Buckland
The Supply-side of Payday Lending in Manitoba: A Report to the Public Utilities Board of Manitoba This report examines key characteristics of the payday loan business model in Canada, discusses different types of fee schedules and considers a regulated fee structure.
Payday Lending in Canada in a Global Context, , Community Development Journal 33 3 , , Ploughing up the farm: The Journal of Socio-Economics 38 6 , , Economic Development Quarterly 22 3 , , Canadian Journal of Urban Research 20 1 , , Articles 1—20 Show more.
Are low-income Canadians financially literate? Placing financial literacy in the context of personal and structural constraints J Buckland Adult Education Quarterly 60 4 , , J Buckland Ploughing up the farm: Money management on a shoestring: The changing structure of inner-city retail banking: Serving or exploiting people facing a short-term credit crunch?