A payday loan is a short-term high-interest loan, typically marketed as easy cash to cover costs until the borrower’s next payday. Payday lenders have popped up all over Canada in the last decade. They often charge exorbitant interest rates for small loans and typically target poor neighbourhoods and working poor people.

• The Ontario government recently introduced legislation to curb abusive payday lending practices. Read about the Payday Loans Act, 2008, read an Ontario Government press release, "It’s about fairness: new payday lending law to regulate industry" an article in the Toronto Star, "Payday loan crackdown." As well, you can support ACORN's actions to regulate predatory payday lending.
• The Financial Consumer Agency of Canada has a publication, "The Cost of Payday Loans" (in PDF or HTML) which explains payday loans, describes their costs, and compares these costs with other types of loans available to consumers.
• "A Matter of Interest" is a 2004 Toronto Star series on payday loans.
• The Centre for Responsible Lending has information disputing the claims of the payday lending industry.