Letters from Sudbury: The Real Meaning of Payday Loan; hiding the controversy

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Payday loans a sign of a bad economy


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“I told you so,” is always resentful and confrontational, but sometimes necessary to make people angry enough to wake them up to reality. One such situation is the city council looking at the payday loan industry. The growth in payday lending business is a poor indication that the city’s economic health is in freefall.

The Ontario Payday Loans Act regulates, authorizes, sets fees and interest rates, including fees for a compulsory education fund intended to educate lenders and borrowers. If any of the conditions set out is violated, there are penalties. Why is the council trying to take on an obvious provincial role? The Council’s efforts should be aimed at reducing the need for payday loans.

Payday loans are a sign of the times. They fill a need – not necessary in a healthy community – to close a gap between spending and income until the next payday arrives.

This need grew before – and was not created by – the pandemic. The pandemic has simply made the developing economic reality more evident. Many Sudburians were maxed out on their borrowing capacity and only $ 200 from being unable to meet their obligations until the next payday before the pandemic. They are now unable to do so.

Industrial adjustments to the new emerging economic reality had been planned and implemented early long before the pandemic. These facts were reported to the city as an impending economic tsunami as early as September 2018. I told many Sudburians during presentations that this was coming.


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“I told you,” but was not believed and the city council ignored these facts.

As conditions deteriorated, the city has focused on wealth-consuming and dependent projects instead of those that generate wealth. Industry and well-paying jobs generate wealth. Sports, arts, games and entertainment facilities are more predatory than payday loans. They increase the cost of living and consume the resources necessary to ensure true economic growth that would minimize the need for payday loans.

Some councilors who saw these signs tried to initiate planning for the situation, but were ridiculed and slandered by other councilors keen to continue consuming wealth at the expense of municipal needs.

Instead of investigating an already provincially regulated tax transition company, a critical review of the economic development department should be city council’s No.1 priority.

Why haven’t the promises of economic development for trips to Finland, Peru, Nevada and Nice produced economic generators? The city’s performance over the past six years has been one of leisure development, not economic development.

The Council needs a detailed analysis of the changes needed in the economic development department to change the mandate of the recreation department to real economic development and this change cannot come soon enough.

At the same time, the preparation of a 2021 municipal budget must recognize and begin to make internal adjustments that recognize the new reality.


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Thomas Price

White fish

Masks continue to be debated

Wearing a mask to slow the spread of COVID-19 has been a hot topic since the start of the pandemic in the spring. A story on the Star’s Facebook page (“Aylmer under state of emergency as anti-containment protests erupt again,” November 3) has generated a lot of interest.

I am really happy with the comments. Losing our personal freedoms, violating our rights guaranteed by the Charter. You keep saying these things that don’t happen. Asking anyone to wear a mask does not infringe your rights. You are required to wear a shirt and shoes in a store. People say we live in a totalitarian state. Yes, sorry, but it’s not one of those. Go to the library and buy a book and read about current totalitarian states.

Kenneth Ogilvy

Interesting (and curious) how masks play such an important role in the decision to declare a state of emergency. When people first expressed fears that masked warrants would be used to nullify personal freedoms and constitutional rights, many were skeptical and critical. I don’t recall any such concerns from the government at the height of the pandemic when BLM marches and rallies took place. Perhaps the risks are only increased for certain social causes.

George schaffer


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