HOW TO START A PAYDAY LOAN BUSINESS
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WINNIPEG (CP) - New rules in several provinces are supposed to protect consumers from sky-high interest rates and fees at payday loan companies, but a consumer lobby group says they will likely do nothing to prevent the poor from becoming trapped by crushing debtloads. When the Legislature adjourned last month after 164 days in session, many lawmakers raced out of the Capitol, excited, it seemed, that their work on West Washington was done. Homeowners are bracing themselves for further mortgage-rate rises following Reserve Bank Governor Alan Bollard's decision to raise the the Official Cash Rate once more. It now sits at 8.25 per cent. Savannah native and longtime business banker Kay A. Ford has been appointed president and chief executive officer of SunTrust Bank, Savannah replacing Mardie R. Herndon Jr., who has been promoted to retail banking line of business manager for SunTrust Bank, Georgia. 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