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Jan 15, 2018 The Canadian Payday Loan Association reports that nearly 2 million Canadians use payday loans each year. What is more worrisome is that fewer than half of the respondents (43%) of the FCAC survey understood that a payday loan is more expensive than available alternatives. According to FCAC, the 

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An estimate was made that there were 1,200 payday lenders in Canada in 2005, but the industry was expanding so rapidly that it was “difficult to get updated Again, from a sociological perspective, it is interesting to note that although society reviles the use of payday loans as extortionate or coercive, it is very clear that