Ottawa has joined the provinces to find cheaper choices to controversial "payday" loans, as Canada's mainstream loan companies largely overlook the fringe credit industry for low-income workers. Patrick Mohan, president in the Independent Payday Loan Association of Canada, called modifications "punitive. The report, released today, "Capping Borrowing Costs - A Balanced Approach to Payday Loans in Ontario" is not balanced and it is instead something special to payday lenders on the expense of Ontario's most vulnerable consumers - just like Ontario enters what could be its largest tough economy, said the customer group. But no matter adjectives are used to spell out these high-interest loans, the measures in Bill 15 are beyond welcome; these are long overdue. Dippolito became associated with several same day payday loans canada advance companies to secure a gambling problem. On it's face, this looks as being a 'win' for that borrower.