Anti-poverty advocates call on federal government to curb ‘predatory’ lenders
Acorn’s Vanier chair Bader Abu-Zahra stands outside an Easy Financial on Donald Street. He says Vanier has among the highest concentrations of payday lenders in Canada and the pandemic has only increased the demand. Photo by Julie Oliver / Postmedia
ACORN (Association of Community Organizations for Reform Now) members across the country held a national day of action earlier this month with demonstrations staged at payday lenders, where people shared personal testimonials of becoming “trapped in a cycle of debt,” according to Bader Abu-Zahra, chair of the Vanier ACORN chapter.
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Once they sign on for a loan, Abu-Zahra said, he’s heard dozens of stories about “excessive” phone calls, either to offer more loans or incentives, or to collect on existing ones. (más…)