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Payday Lending is a Front Page Issue

Momentum is delighted to share with you a huge achievement of our public policy team. For months they have worked to raise the profile of the high cost of payday lending and its impact on low income earners. Today’s big news? The front page of the Calgary Herald print edition reads: “Tighter rules urged for payday loans.” This could be the start of a city-wide conversation about high-cost lending. Let’s begin!
You can read and comment on the article by Jason van Rassel online right away. Thank you, Jason, for another great piece of reporting on an important social issue.
If you love to influence public policy, my colleague Mike Brown led the development of a policy primer on payday lendingjust for you. Please, read the primer and bring up the issue of payday lending the next time you see an elected official. Also, ask your banker what products they offer to meet short term credit needs.
Mike also wrote a great blog post about payday lending that you can read at the Action to End Poverty in Alberta blog.
Have you ever used a payday lender? What would you change about current short-term credit options for Calgarians?