October 25, 2016 / 2:32 PM / 10 months ago

Canada consumer watchdog says payday lending uptake has doubled

TORONTO, Oct 25 (Reuters) - The number of Canadians turning to high-cost payday loans has more than doubled to 4 percent of households, the country's consumer watchdog said in a report published on Tuesday.

The Financial Consumer Agency of Canada said that, as a result of its findings, it will bolster its consumer education material and work closely with provinces to raise awareness about the high cost of payday loans.

Reporting by Matt Scuffham; Editing by Chizu Nomiyama

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