Thanks for the Minister’s comments. I hope that the Minister will report to committee on the results of that monitoring.

People who rely on payday loan companies are often the most vulnerable in our society, as the Minister knows; people without bank accounts or fixed addresses. They then become trapped in a cycle of debt, paying their whole paycheques so they can borrow on the next, or borrowing to pay their loans. It’s not a coincidence that loans stores are located right nearby both of our liquor stores.

When the law was introduced, what steps did the department take to meet with firms to make sure that they are aware of the law and are meeting their

legal responsibilities for transparency of fees and interest rates?