feedback generated from the consultations led to Bill 156 - Alternative Financial Services Statute Law Amendment Act, 2016. Bill 156 never made it past second reading and was referred to the Standing Committee on Social Policy.

In August 2017, CDHS was again contacted by the MGCS to respond to proposals for changes to the regulations under the Payday Loans Act, 2008 and the Consumer Protection Act, 2002 . The proposed changes would implement Bill 59, the Putting Consumers First Act (Consumer Protection Statute Law Amendment), 2017. Although CDHS responded about organizing another community consultation, online comment was the only method permitted. CDHS and Pathway to Potential widely shared the online consultation survey and discussion paper through its network for community stakeholders' feedback. On December 19, 2017, CDHS was informed Bill 58 passed, and changes to Payday loans would become effective July 1, 2018.

This legislation defines a payday “lender” as a corporation, partnership, sole proprietor, association or other entity or individual that makes a payday loan to a borrower or that holds oneself out as available to make such a loan and brokers to be licensed in order to operate. Under the Act:

• PLE’s cannot charge more than $15 for every $100 that is borrowed;

• PLE’s cannot sell or offer goods or services in connection with payday loan;

• A contract for a payday loan can be cancelled within 2 business days without any penalty (e.g., without paying a fee) and without having to give a reason;

• "Rollover" loans are not allowed (You cannot roll what you owe on a payday loan into a second payday loan; you cannot get another payday loan from the same lender before paying your first loan in full).

Payday lenders must:

• Be licensed with the Government of Ontario and follow the rules set by the Payday Loans Act, 2008;

• Include the following information on the first page of a contract:

  • The amount borrowed;

  • The number of days that the loan is for; and

  • The cost of borrowing.

• Never ask for or accept payments by automatic deduction from a borrower’s