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Wow.
"The FCAC's 2020-21 COVID-19 #Financial Well-being Survey showed that approximately 2 per cent of #Canadians used an online non-bank lender or #PaydayLoan company in the previous 12 months."

Payday loans are crazy #expensive, often close to 60% p.a. (sixty!) if you include the fees. Charging above 60% is #criminal #usury in #Canada. However, loans of up to $1500 are exempt, so the typical payday loan #lender could charge even more.
#poverty #money #ripoff #poor