The never ending cycle of the payday loan industry is crippling Canadians who are unaware of the hidden interest. In an article by Scott Gilmore in the MacLean’s magazine payday loans make it easy to get money when you need it, but the interest can come back to stab you in the back. As a student who is always in need of financial assistance it is not hard to imagine needing a loan to make ends meet. I found it shocking when reading the response of Stan Reyes, the president of the Canadian Payday Loan Association, about taking out a payday loan. He stated: “No. I’ve been fortunate. I have some financial skills.” This statement makes it very clear to me that the President of the Canadian Payday Loan Association does not find this service financially
