New and proposed laws, they state, get too much.

The chance, the industry contends, is the fact that if laws become too strict, businesses goes away from company. Canada’s biggest player recently did – Edmonton-based Cash Store Financial solutions Inc. went away from money, declaring bankruptcy this past year, which it blamed in part on Ontario regulatory problems.

Because of this, the industry can not be looked at growing in Canada, notes Stan Keyes, spokesman for the Canadian cash advance Association, which represents most licensed payday lenders in the united kingdom.