Fraudsters often use emotions to lure people in, making a person feel afraid of missing out on an opportunity that others are profiting from. With all the cryptocurrency hype in the media and online, it’s no surprise that scammers are taking note and trying to cash in on investors’ interest in digital currencies. Read this article for more information on the top crypto-related scams you should know.
Imagine a loved one is in trouble or hurt. You get a call asking for urgent help. You’d likely want to act right away because you care about them. Exploiting family ties is the driving force behind grandparent scams — or emergency scams. This article from the OSC can help you to protect yourself from becoming a victim of an emergency scam.
Global Learning Partners (GLP) helps individuals and organizations to learn by providing practical expertise in learning assessment, design, facilitation and evaluation. Their connecting virtually toolkit covers a variety of topics to learn, teach and connect in a virtual world. The resources include ways to engage the whole person, hosting online meetings that work, teaching online and managing work, staff and kids at home.
High levels of household indebtedness in Canada has been a concern for policymakers at all levels of government over the past decade. As the economic costs of COVID-19 grow, household indebtedness becomes a faster growing and increasingly more serious concern.
While responsive government policy, such as the federal government’s Canadian Emergency Response Benefit (CERB), has curbed some short-term impacts on indebtedness, the program was developed to fill a temporary gap. The most vulnerable households are low-income households with limited access to credit, who frequently turn to high cost payday lending for financial relief. While regulations on the payday lending industry have increased substantially, low-income Canadian households remain left with few, if any, practical alternatives.
The low-income households in greatest need of alternatives are the financially excluded, specifically the underbanked and the unbanked.
At the same time, it is important to recognize that not all payday loan clients are in low-income households. A 2016 report by the Financial Consumer Agency of Canada states that close to 40% of payday loan borrowers have household income of $55,000 or greater and 20% having income of $80,000 or greater.
Thus, payday loan borrowers are not a homogeneous group.
Some Canadian credit unions have developed payday loan alternatives for the financially excluded, however, these more reasonably priced loans are only accessed by a very small portion of would-be payday loan clients.
The objective of this research is to review the alternative payday loan products currently offered by Canadian credit unions, to identify the barriers to offering more payday loan alternatives, and to make recommendations to expand the offerings.
Service design consultancy Bridgeable provides an overview of the project partnership with Prosper Canada in April 2020 to take a design sprint approach in providing remote tax-filing and benefits application service solution. Over the course of four consecutive days, Bridgeable worked with eighteen financial empowerment champion (FEC) partners to generate solutions to four key aspects for remote service delivery:
