Report of the Public Utilities Board of Manitoba in respect of The 2013 payday loans review : 2013 payday loans review

Pursuant to jurisdiction under The Consumer Protection Act (Manitoba) and The Public Utilities Board Act (Manitoba), the Public Utilities Board of Manitoba (the "Board") conducted a public review and consultation of Manitoba's payday loan regulations and the payday loan industry. Based on the information before it and the submissions made by interveners and presenters, the Board made certain findings and recommendations which represent the results of the consultation as contained in this report. The Board recommends in this report to the Minister that the cost of credit for a payday loan remain unchanged at 17% of principal loaned and that the borrowing limit remain at 30% of net pay.