Ontario Plays Hardball with the Cash Store

It seems like a petty argument by the governing body .  “The Ministry branch has been seeking since September to force The Cash Store to deliver payday loans in cash rather than electronically. But, the Cash Store says, electronic distribution is “much safer and efficient” and it is “unwilling to place employees and customers at risk of physical harm.”

The Cash Store‘s defense is that it’s not a payday lender anymore.  Here is the Cash Store statement:  the recent introduction of line of credit products in Ontario means the firm and related company Instaloans Inc. do not offer payday loans in the province. As a result, “the Registrar’s proposal to revoke the Companies’ payday loan licenses is not expected to cause any interruptions to the Companies’ current operations.”

Read more: http://www.ottawacitizen.com/business/fp/Cash+Store+Financial+seeks+appeal+proposal+revoke+lending/7926134/story.html#ixzz2KE1q1HNL

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