Posted inNunavut News

GN cautions Nunavummiut on high-interest payday loans

The Department of Community and Government Services is reminding Nunavummiut that payday loans are “a very expensive way to borrow money,” and companies that issue such loans should meet certain standards. Payday loans are short-term with considerably higher interest rates than regular bank loans or lines of credit. “High interest rates and potential additional fees […]