Hamilton is one of the few cities in Ontario to consider such legislation, adding to its ongoing
crusade against payday loan companies.
Following her vigorous
campaigning against payday loans companies and an impressive performance in the deputy leadership election last year, Stella Creasy is seen by many Labour moderates as one of their brightest stars.
Briefly mentioned in the introduction of this report, a common
charge against payday loans is that they initiate an unforgiving lending cycle in which the borrower is never able to climb out of debt.
When all is said and done, the borrowers are left with much more debt than they anticipated and vehemently
turn against payday loans.
A lot of people
swear against Payday loans and consider it as a surefire way to ruin their financial situation and get themselves caught in an inescapable debt spiral.