To better protect borrowers who take out high-cost loans, high-cost credit lenders will be required to comply with legislation, making NL the first Atlantic Province to implement a regulatory regime specific to high-cost credit lenders.
Effective June 1st high-cost credit lenders must be licensed to operate in this province. These lenders are distinct from banks, credit unions and payday lenders, and offer installment loans at high interest rates. The cost of borrowing may include additional fees and compounding interest. To better protect borrowers who take out high-cost loans, high-cost credit lenders will be required to comply with legislation, making NL the first Atlantic Province to implement a regulatory regime specific to high-cost credit lenders.
Corner Brook to launch evening and weekend on-demand transit service April 1st
Corner Brook RNC hand out six tickets during weekend snowmobile checkpoint in Cook's Brook area
Public comments wanted on a proposed rock quarry south of Daniel's Harbour
RCMP investigating after windows at Byrnes' Shoes and Sportswear smashed on the weekend
CEO talks about expected growth at the Deer Lake Airport and a $30M expansion to start next spring
