I opened my Ottawa Citizen a few years ago, and I saw this picture, and I was hit by a combination of hatred, anger, and lurid curiosity. It truly is a hideous financial image.
Revulsion and Anger
Why am I repulsed? You haven’t read much of my posts, but I think the Cheque Cashing and Pay Day Loan industry is the worst financial service out there and shouldn’t just be heavily regulated (which it is not). It should be shut down. Anger because the surcharges and interest rates taken by these modern-day Loan Sharks are obscene even at the Loan Shark level.
Lurid Curiosity
This is the most impressive entrepreneurial setup I can see. Whoever runs this particular business has nailed their clientage exactly and is pandering to their every whim and need.
- Cheques cashed at a fee
- Lottery tickets sold (and given away as incentives to good customers)
- Cigarettes sold
- Foreign Exchange
- Money Transfers
- Income Tax “Refunds Now!”
- Payday Loans
What other services could they offer?

Hideous Financial Image Commentary
It’s staggering that the government allows this kind of “financial pornography” to go on. I must admit I didn’t think there were places like this around my house, but I noticed a “Modern Day Money Lender” has opened in my neighbourhood. Why? I have no idea.
I guess over the next year or two. This may be one of the growth industries along with repossession and bill collection, which is an unfortunate statement about life in general.
Pretty crafty! Do we blame the marketer, or the dumbo who falls for this?