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MISSISSAUGA, Ontario, March 01, 2021 (GLOBE NEWSWIRE) The Independent Payday Loan Association of Canada (IPLAC) feels it necessary to respond to the inaccurate ACORN Canada report “Study on High Interest Loans – A Report” and the CTV report “Use of payday loans surges amid COVID-19 pandemic, new survey finds”.
On February 17, 2021, local media reported, on television and on the web, protests against “predatory lending” led by the anti-poverty activist group. Much of the information in this report was sourced from their report, whose content vilified the payday loan industry, calling for aggressive additional laws and regulations. It also included a wish list for the banks, inaccessible to many who use payday loan services.