Behind the figures. Pay day loans and bank standards that are double

Behind the figures. Pay day loans and bank standards that are double

Income inequality is mounting in Canada, making an currently inexcusable wide range gulf even worse.

In accordance with wide range comes privilege — especially in Canadian banking.

Low-income residents of Canada face an important standard that is double it comes down to accessing banking solutions despite urgently wanting them, relating to a study of 268 ACORN Canada people, whoever findings had been posted today because of the Canadian Centre for Policy Alternatives’ Ontario workplace.

The study outcomes show numerous have already been denied use of extremely banking that is basic — such as for instance cheque cashing or overdraft protection — from traditional banking institutions.

But we have all to consume. And rest. Then when the banks will not give you a connection over booming water that is financial numerous low-income people seek out payday lenders to ferry them across. (more…)

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