CI NEWS SERVICE
Earlier this month it was Toronto council that voted to stop issuing new licences to payday loan, now Brampton is deciding to go down that same route. It is very evident that the number of payday loan shops across Brampton has exploded in recent times.
Mayor Patrick Brown has been under some pressure to do something about this scourge which is being compared to guns shops in the US.
Seeing such Payday establishments concentrated in certain neighborhoods is an indicator of social problems and poverty. On the other hand, these places are often the last resort for people who are in danger of losing their homes or ensuring they can satisfy their basic requirements.
Brampton council hasn’t made any decisions on the matter as yet, but did direct staff to report back regarding the city’s powers and legal limitations at a later meeting.
The problem is that Brampton is a magnet for newcomers, refugees and international students, many of whom are precariously employed and live paycheck to paycheck.