Therefore, once you provided me with the secret wand and we said repeal the exemption that could be great. Or you could do just just exactly what the province of Quebec has been doing and as opposed to making laws that enable the operation of payday advances or they reduced the allow maximum allowable interest rate from 60% to 35% as it is in the rest of the country,. And essentially told the cash advance provider cope with that specific situation and weвЂ™ll see just what items you provide then, which fundamentally has greatly curtailed the procedure of the industry players for the reason that province.
Doug Hoyes: Now i suppose the devilвЂ™s advocate reaction to that would be well, fine then presumably they all go out of business tomorrow if you tell the payday loan companies that instead of charging $21 on $100, they can only charge $5 on 100? If you donвЂ™t pay and thatвЂ™s probably worse than what we got now because they donвЂ™t have time to adjust to that new reality and does that make things worse вЂ™cause now weвЂ™re all dealing with loan sharks and they break your legs. Read more