Podknife - Cash-strapped Canadians turn to loans charging 47% interest by The Current

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Cash-strapped Canadians turn to loans charging 47% interest

Podcast |: The Current
Publisher |: CBC
Media Type |: audio
Podknife tags |: Interview,; News & Politics,; Society & Culture
Categories Via RSS |: News & Politics
Publication Date |: Feb 05, 2024
Episode Duration |: 00:22:53

And many Canadians turn to alternative lenders when money gets tight, but those lenders can charge up to 47 per cent interest. The federal government is taking steps to cap that interest rate at 35 per cent — but critics say the move won’t address why people turn to alternative lenders in the first place.

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