Quote:
Originally Posted by kunkstyle
Still? I thought that got reduced a few years ago?
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From what I can find on the internet, Section 347 and 347(1) of the Criminal Code of Canada still have any amounts greater than 60% considered criminal interest.
It looks like in 2006-07 with Bill C-26, you can even charge higher than the 60% interest rate using a payday loan if the loan is for less than $1,500 and the term is 62 days or less.