Thread by @bowker_john, Canada's big six banks, which collected $46 billion in profits last year, [...]

John Bowker

bowker_john

Canada's big six banks, which collected $46 billion in profits last year, are charging interest on mortgage deferrals during the pandemic https://www.cbc.ca/news/business/banks-charge-interest-on-interest-for-mortgage-payment-deferral-1.5529399 #cdnpoli #covid19

'It feels greedy': Big banks charging interest on interest for deferred mortgage payments | CBC News

A Toronto couple says temporary relief has turned to anger after learning that deferring their mortgage payments amid the COVID-19 crisis will result in $7,400 in interest being added to the outsta...

https://www.cbc.ca/news/business/banks-charge-interest-on-interest-for-mortgage-payment-deferral-1.5529399

Meanwhile, payday lenders are still charging as much as they can during the pandemic https://www.thestar.com/business/2020/04/11/amidst-a-pandemic-some-payday-lenders-are-limiting-services-others-are-expanding-them.html #onpoli #covid19

While banks slash their rates on loans, many payday lenders are still charging as much as they can

Payday lenders say they are an essential service to those shut out from banks during “tough times.” Critics say they are predatory.

https://www.thestar.com/business/2020/04/11/amidst-a-pandemic-some-payday-lenders-are-limiting-services-others-are-expanding-them.html

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