London Payday loan lenders targeted by protesters calling for change
CTV
Local members of a national group representing low and moderate-income families protested against payday loan and cheque cashing operators Thursday.
Local members of a national group representing low and moderate-income families protested against payday loan and cheque cashing operators Thursday.
Members of ACORN Canada have conducted an awareness campaign designed to put pressure on high-interest money lenders.
The small 5 p.m. protest was one of many across Canada, timed to generate awareness on behalf of the hundreds of thousands who struggle to support themselves and their families nationwide.
London-based ACORN Canada member Claire Wittnebel says they’re being taken advantage of by what she calls “predatory lenders.”
“People don’t come here [payday loan locations] because they want to, they come here because they don’t have other options. We want more options to be available. If this is the only option, we want it to be more controlled and less predatory,” she said.
The members say a federal liberal promise to reign in high-interest lenders has yet to be fulfilled. They say it needs to be a priority, especially as pandemic subsidies end.
ACORN says its own survey has found more than 83 per cent of people seeking payday and instalment loans do so just to meet basic needs, including food and rent.
