To better protect borrowers who take out high-cost loans, high-cost credit lenders will be required to comply with legislation, making NL the first Atlantic Province to implement a regulatory regime specific to high-cost credit lenders.
Effective June 1st high-cost credit lenders must be licensed to operate in this province. These lenders are distinct from banks, credit unions and payday lenders, and offer installment loans at high interest rates. The cost of borrowing may include additional fees and compounding interest. To better protect borrowers who take out high-cost loans, high-cost credit lenders will be required to comply with legislation, making NL the first Atlantic Province to implement a regulatory regime specific to high-cost credit lenders.
Corner Brook issues advisory ahead of winter weather on Wednesday
Food drives during Christmas help stock the shelves for the year at the Bay of Islands Foodbank
UPDATE: 32nd annual Tree of Memories celebration will now take place December 9th
Corner Brook mourns the loss of long time and well known volunteer Gladys Batten
Driver pulled over in Corner Brook Saturday evening, no insurance or registration
