This is an interesting article

canadaeast.com - TT Canadian Business: "Feds give provinces power over payday loan industry

WINNIPEG (CP) - After months of lobbying, the federal government has apparently agreed to give the provinces new powers to crack down on the payday loan industry.

Ottawa will table amendments to the Criminal Code this fall to give provinces the right to set and enforce maximum interest rates and fees, according to Manitoba Finance Minister Greg Selinger, who said he was given the assurance by federal Justice Minister Irwin Cotler during a phone conversation this week.

'This change would allow the province to put in place what is considered to be a reasonable set of charges for the payday lending industry,' said Selinger, who is also Manitoba's minister for consumer affairs.

'(Cotler) has indicated to the province of Manitoba and to myself personally that he will support an amendment to the Criminal Code to allow provinces to licence and regulate payday lenders,' Selinger said."