October 25, 2016 / 2:32 PM / a year 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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below