British Columbia Payday Loan Association calls for committee hearings



    Bill 27 bad for consumers; consultations needed

    KAMLOOPS, BC, April 27 /CNW/ - The British Columbia Payday Loan
Association (BCPLA) called on the provincial government to hear witnesses on
Bill 27, the Business Practices and Consumer Protection (Payday Loans)
Amendment Act.
    BCPLA spokesperson, Kevin Isfeld, criticized government officials for
introducing legislation without first conducting direct consultations with the
industry. The BCPLA represents 24 member companies that comprise 65 percent of
operators in the province.
    "This legislation contains many elements that are bad for consumers and
industry operators, including provisions to regulate third-party service
providers and the retroactive application of fines that could put many
legitimate operators out of business," said Mr. Isfeld.
    "This government has conducted no direct consultations with BC operators.
Our members are angry and concerned," he added.
    The BCPLA is a supporter of consumer protection measures. Its members are
committed to legislation that will strike a proper balance between consumer
protection and a competitive lending environment. Bill 27, as written, fails
to achieve this balance.
    "The BCPLA believes that the government of British Columbia can redress
shortfalls in the legislation by conducting committee hearings at which all
stakeholders can make their views known. The government can then amend the Act
to achieve the required balance," Mr. Isfeld said.
    The BCPLA demands an opportunity to appear as a witness before the
legislature.





For further information:

For further information: Kevin Isfeld, spokesperson, at: (250) 374-0693,
ext. 206; For more information about the BCPLA visit www.bcpla.ca, or email
info@bcpla.ca

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BRITISH COLUMBIA PAYDAY LOAN ASSOCIATION

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