News

Hamilton looking to curb payday loan outlets

The city of Hamilton is hoping to curb the use of payday loans with a new bylaw. The outcome of the new law would be to limit the number of payday loan outlets in the city at 15 and no more than one per ward. Currently there are 30 operations running in Hamilton, and the majority of the outlets are situated in Wards 2 and 3, located in the downtown core and in the central lower part of the city.

Ram recalls more of their trucks due to gear shifter problems

Back in December Ram recalled 1.8 million trucks because they could be shifted out of park without the driver's foot on the brake or possibly without the key in the ignition. Now, Ram has recalled an additional 229,000 trucks for the same issue. Fiat Chrysler said it discovered that more trucks than anticipated could be affected by the problem.

The new mortgage stress tests have potential homeowners looking for alternative lenders

Thanks to the new mortgage stress test rules that were put in place by OSFI, and the continuous rise of the Bank of Canada’s benchmark interest rate, many hopefully borrowers have been forced to seek out alternative lenders. The number of those rejected by banks has risen by 20%, and as a result, those that fall under the “alternative lender” category have seen an increase in business.

Federal competition watchdog alleges that Loblaws was not the only grocer to be involved in bread fixing scheme

Back in December it was revealed that Loblaws and George Weston Ltd were involved with a countrywide bread price fixing scheme that spanned over a decade. The story was hard to miss as it was a hot topic across the country, especially as they announced that customers would be eligible for a $25 gift card to make up for any wrongdoing.