By The Canadian Press

Alberta to Introduce Law to Crack Down on High Payday Loans Interest Rates

Mar 9, 2016 | 11:11 AM

EDMONTON – Alberta’s NDP government says it plans to crack down on high interest rates charged by the payday loans industry.

The province says it is preparing to introduce a bill called An Act to End Predatory Lending.

Details of the legislation have not yet been released.

But the results of government survey conducted late last year suggest most respondents believe borrowing charges are far too high.

The government says payday lenders in Alberta can charge $23 per $100 borrowed, the second highest rate in Canada.

Nighttime construction on Hwy 3 in Lethbridge starts April 17

Apr 17, 2025

SASHA launches #BuyABed fundraiser to support vulnerable Lethbridge residents

Apr 04, 2025

$20K grants available: TELUS STORYHIVE Pan-Asian Edition opens applications April 1

Mar 18, 2025

A regulation that Alberta brought in to govern the industry in 2009 is to expire at the end of June.