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Does the government need to clamp down on predatory lending?

Does the government need to clamp down on predatory lending?

FromThis Matters


Does the government need to clamp down on predatory lending?

FromThis Matters

ratings:
Length:
15 minutes
Released:
May 10, 2022
Format:
Podcast episode

Description

Guest: Christine Dobby, Business Reporter You don’t have to look far to see those who experienced terrible financial hardship over the past two years. We don’t talk about our finances. But a recent report has painted a harsh picture just the same. The report published by ACORN, a non-profit organization advocating for moderate to low-income Canadians has revealed that more and more people were forced to take out instalment or payday loans during the pandemic–and many are trapped in a vicious cycle, paying off interest rates of up to 60 percent. Star Business Reporter Christine Dobby explains how high-cost lenders operate and whether the government should have done something to help prevent Canadians from falling through the cracks and into a crushing cycle of debt. This episode was produced by Saba Eitizaz, Brian Bradley and Matthew Hearn.
Released:
May 10, 2022
Format:
Podcast episode

Titles in the series (100)

The world is changing every day. Now, more than ever, these questions matter. What’s happening? And why should you care? This Matters, a daily news podcast from the Toronto Star, aims to answer those questions, on important stories and ideas, every day, Monday to Friday. Hosts Saba Eitizaz and Raju Mudhar talk to experts and newsmakers about the social, cultural, political and economic stories that shape your life.