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Alberta to cut interest costs, broaden repayment rules on payday advances

Alberta to cut interest costs, broaden repayment rules on payday advances

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Alberta is using action to control exactly exactly what it terms exploitative behavior by pay day loan businesses, but a spokesman for the industry states the modifications are incredibly extreme they are going to do more damage than good.

Provider Alberta Minister Stephanie McLean introduced legislation that would enforce lower interest costs and broaden repayment rules thursday.