1. Objective Borrowing money in the form of a payday loan is expensive for consumers. The use of these short-term and high-cost loans has more than doubled in Canada recently to reach 4% of Canadian households Footnote 1. The Financial Consumer Agency of Canada (FCAC) has been responsible for raising awareness of the costs of […]
Month: March 2019
Loan for Pensioners
Pensioners and retirees are also looking for a loan. Age and income, however, play an important role in this. Some banks are already rejecting a loan request from the mid 50s. Others, however, also lend to over 60 year olds. Retirees, however, have better prospects, because who buys a pension, was employed in the civil […]
Refund processing fees: Which loans are affected
Recently, the BGH has passed a verdict, which many bank customers should be pleased. The judges in Karlsruhe decided that banks are not allowed to impose any processing fees on their customers for loans, in addition to interest payable. This issue has long been controversial. Customers now have to check whether the verdict concerns their […]