Ontario’s opposition parties are calling on Premier Doug Ford’s government to strengthen consumer protection laws after a Star investigation found a major alternative lender profited off Ontarians duped into high-interest loans.
LendCare, a Pickering-based subsidiary of high-cost lender Goeasy, offers point-of-sale financing for everything from beauty products to used cars. The Star found that LendCare partnered with businesses that deployed misleading or fraudulent tactics to take advantage of vulnerable borrowers nationwide.
Ontario officials have for years contemplated more stringent regulation of alternative financial service providers such as LendCare, which offer high-cost loans to borrowers who don’t qualify for more affordable options from traditional banks. Ford’s Progressi

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