The following quote reproduces the text of the flyer being handed out at the CashMax Protest:

“SAY NO TO CASHMAX”
405 Roncesvalles Ave (R.I.P. Mad Gypsy)

Let’s say no to the entry of CashMax, an American multinational payday loan company, into our Roncesvalles neighbourhood.

In 2008 the Ontario government recognized the predatory nature of the payday loan industry by introducing legislation that somewhat limited payday loan interest rates and required payday loan companies to clearly state the real costs of their services. At the time, MPP for Parkdale-High Park, Cheri DiNovo, stated “payday loan operations in Ontario are unlicensed and unregulated loan sharks that charge criminal interest rates,” and that it was necessary to, “stop predatory lending practices that are detrimental for communities, because they attract some of the most vulnerable individuals to enter into a vicious cycle of debt.”

Payday loans are a tragic occurrence; they profit off of the credit shortcomings of individual consumers and lower income families. While legal, they are an unfortunate symptom of our debt-encouraging society. Payday loans do nothing to improve society; they are, in fact, a detriment to society.

Roncesvalles is currently experiencing the hardship of a prolonged municipal construction project that has negatively affected businesses on the street and our own everyday enjoyment of our once beautiful and thriving community. The arrival of CashMax serves as just another blow to the image of the Roncesvalles community.

Texas-based CashMax does not fit in to our community. We have proven in past that we can come to together and raise our voices for positive, neighbourhood-enhancing change. The saving of the Revue Cinema is one clear example of our common strength. Once again it is time to act and the moment is now to voice your opinion about how we envision our Roncesvalles community today and in the future.