Two payday loan companies have been ordered by the province to refund 61 borrowers for unlawful fees charged.
The Consumer Protection Office says Cash Store Financial Services Inc., operating as the Cash Store and Instaloans, were in violation of Manitoba’s maximum legal cost of $17 per $100 on payday loans.
Residents of Manitoba who obtained a payday loan from the Cash Store or Instaloans between October 18, 2010, and October 17, 2012, and were charged an additional fee for an electronic funds transfer or cash card may be eligible for a refund of the loan fee(s).
Those affected should contact the Consumer Protection Office at (204) 945-3800 or 1-800-782-0067, or by e-mail at consumers@gov.mb.ca.
Canada Payday Loan Rates (PROVINCE OF MANITOBA)
