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Alberta Announces Lower Fees for Payday Loans

Momentum has been working towards change in the payday lending industry by educating the provincial government and the City of Calgary on the real cost of payday lending. We have seen the results of people—hardworking people like Timothy Afolayan—getting stuck in a cycle of worsening debt because of payday loans.
We were excited to have staff members in attendance when Service Alberta Minister Stephanie McLean announced that Alberta now has the lowest maximum payday lending rate in the country. As of August 1st, 2016 Alberta has lowered fees from $23 to $15 per $100 borrowed.
Want to know more? Check out the recent coverage in the media: