VICTORIA, April 18 /CNW/ - National Money Mart Company, Canada's leading
convenience financial service provider, today welcomed new legislation
introduced by the British Columbia government that will balance strong
consumer protection with a viable payday loan industry.
Money Mart has been based in British Columbia for 22 years and is a
founding member of the Canadian Payday Loan Association (CPLA) that has been
working towards provincial regulation of the industry. Many elements of the
legislation introduced today mirror the CPLA's Code of Best Business Practices
put in place more than two years ago.
British Columbia's move to introduce viable and balanced industry
regulation follows similar legislation in Manitoba, Saskatchewan and Nova
Scotia. New Brunswick is expected to introduce legislation this spring with
Alberta, Ontario and other Atlantic Canadian provinces to follow.
"Money Mart is the industry leader in consumer protection and provides
the lowest-cost payday loans in Canada," said Syd Franchuk, Chairman of
National Money Mart. "We welcome this important legislation and look forward
to a competitive marketplace that balances strong consumer protection with a
For further information:
For further information: Dodie Cox, (250) 595-5211