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Posted: Jan 30, 2021 4:00 AM ET | Last Updated: January 30
A Marketplace hidden camera investigation looked into popular alternative lenders and found they re charging up to 46.96 per cent interest in an era when the cost of borrowing is at historic lows. (CBC)
A senator and a prominent mortgage industry executive are calling on the federal government to crack down on lenders who charge sky-high interest rates to Canadians desperate for cash, after a
Marketplace hidden camera investigation found questionable business practices among a number of alternative financial institutions.
The investigation into CashMoney, Easyfinancial, Fairstone Financial and Money Mart reveals confusing and misleading representations, and a lack of transparency and documentation.