Data on the Cost of Providing Payday Loans in Canada

This study by Deloitte, one of Canada’s largest accounting firms, is the one of the most representative studies ever completed on the cost of providing payday loans in a Canadian province. The results were particularly pertinent in BC because of how its provincial government searched for an appropriate rate cap. In a payday loan consultation document, the BC government defined its objective for a maximum allowable rate as “the lowest charge possible that still allows a viable payday lending market.” It seems that Deloitte provides the answer in this study.

Tagged as: Cash Advance, Deloitte, Payday Loan, Report, Study