VICTORIA, BC, April 30 /PRNewswire-FirstCall/ - National Money MartCompany, a subsidiary of Dollar Financial Corp (NYSE:DLLR) and Canada'sleading convenience financial service provider today welcomed the NewBrunswick government passing new payday loan legislation that will balancestrong consumer protection with a viable payday loan industry.
Money Mart is a founding member of the Canadian Payday Loan Association(CPLA) that has been working for four years towards provincial regulation ofthe industry. Many elements of the legislation passed today mirror the CPLA'sCode of Best Business Practices put in place more than four years ago.
New Brunswick's new law is consistent with other recent legislation inBritish Columbia, Saskatchewan, Manitoba, Ontario and Nova Scotia.
'Money Mart continues to be the industry leader in consumer protection andproviding the lowest-cost payday loans in Canada,' said Syd Franchuk -Chairman of National Money Mart. 'We welcome this important new law and lookforward to a competitive marketplace that balances strong consumer protectionwith a viable industry.'
About Dollar Financial Corp
Dollar Financial Corp is a leading international financial servicescompany serving under-banked consumers. Its customers are typically servicesector individuals who require basic financial services but, for reasons ofconvenience and accessibility, purchase some or all of their financialservices from the Company rather than from banks and other financialinstitutions. To meet the needs of these customers, the Company provides arange of consumer financial products and services primarily consisting ofcheck cashing, short-term consumer loans, Western Union money order and moneytransfer products, reloadable VISA(R) and MasterCard(R) branded debit cards,electronic tax filing, bill payment services, and legal document processingservices.
At December 31, 2007, the Company's global store network consisted of1,442 stores, including 1,088 company-operated financial services stores and354 franchised and agent locations in 32 states, the District of Columbia,throughout Canada and in the United Kingdom.
