Dollar Financial Corp (DLLR) agreed to the decision by the Nova Scotia Utilities and Review Board to set a maximum cap on payday loan rates at $31 per $100. The company expect to continue providing payday loans to consumers in Nova Scotia at rates below newly stated maximum.
Dollar Financial noted that the provinces of British Columbia, Alberta, Saskatchewan, Ontario and New Brunswick have committed to set rate caps on payday loans and are underway with processes in each respective jurisdiction.
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