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Legislative Assembly of Ontario. Bill 193, Payday Advances Act

20. No payday loan provider shall impose or gather interest on a quick payday loan that is in standard.

No back-to-back loans

21. No payday loan provider shall create a pay day loan to an individual in the event that individual,

(a) has formerly been issued that loan by any payday lender and the mortgage is outstanding; or

(b) has paid back, in full, that loan to virtually any lender that is payday

(i) within the preceding a week, or

(ii) because the debtor’s last regularly recurring date for receiving earnings. Continue reading