The Registrar of Payday Loans administers the licensing provisions of the Payday Loans Act, 2008.
The licensing fees are $750 per main office and $990 per branch office.
For more information:
Phone: 416-326-8393 or 1-800-889-9768
TTY: 416-325-3408 or 1-800-268-7095
This educational material explains how the cost of taking out a payday loan over time compares to the cost of a cash advance from a credit card. This is to help borrowers with financial planning before they get a payday loan. Any business licenced under Ontario’s Payday Loans Act must display and provide this material to borrowers.
Remote (e.g. online) lenders and brokers must:
Download a copy of the poster [PDF 916Kb]
The flyer-version of the poster must be provided to every borrower.
Download a copy of the flyer [PDF 573Kb]
This material has been approved by the Registrar of Payday Loans under the Payday Loans Act.