Starting January 1st, the criminal interest rate on predatory lending will be lowered, meaning it should be safer to take out payday and installment loans. But these businesses have a tendency to skirt the law, adding unexpected fees and insurance rates to keep borrowers in the hole.

Sam welcomes Donna Borden to the show - an organizer with ACORN. She’s been a victim to these loans, and is now fighting against them. Will the crackdown work and really help lower people’s payments? How can we make short term loans a real option for people struggling, without the sky-high payments?

Host: Sam Konnert

Credits: Aviva Lessard (Producer), Sam Konnert (Producer), Caleb Thompson (Audio Editor and Technical Producer), Max Collins (Director of Audio), Jesse Brown (Editor), Tony Wang (Artwork)

Guests: Donna Borden

Background reading:

• Debt struggles spark concerns - Toronto Star
• Anti-poverty advocates call payday lenders 'criminal,' urge feds to cap interest rates | CBC
• New rules to curb predatory lending still leave many vulnerable - Globe and Mail
• How a $200 payday loan cost over $31,000 - CBC Radio

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