In my research I came across this site...
Canadian Payday Loan Association (CPLA)
http://www.cpla-acps.ca/english/home.php

The name is self explanatory...
Here is how they describe their duties in Canada.

The Canadian Payday Loan Association (CPLA) represents 23 companies with 560 retail financial services outlets across Canada.

Our member companies service nearly 2 million Canadians a year by providing short term loans in small amounts to help cover unanticipated expenses.

The CPLA is not your typical industry association. We’re calling for regulation, not fighting it. And we’re a leader in best business practices and consumer protection.

Our mandate is to work with governments toward a national regulatory framework that will allow for a viable industry and protect consumers.

Our members adhere to a strict Code of Best Business Practices. Observance of this code is closely monitored and strictly enforced by an independent Ethics and Integrity Commissioner.

We take our mandate seriously, and membership in our association is a privilege.

So... if you have any questions regarding payday loan companies in Canada this is the place to visit.