Business News

Money Mart Welcomes New Ontario Legislation

2008-04-01 16:26:00

Money Mart Welcomes New Ontario Legislation

VICTORIA, BRITISH COLUMBIA–( EMWNews – April 1, 2008) – National Money Mart Company, a subsidiary of Dollar Financial Corp (NYSE:DLLR) and Canada’s leading convenience financial service provider today welcomed new legislation introduced by the Ontario government that will balance strong consumer protection with a viable payday loan industry.

“Money Mart is the industry leader in consumer protection and provides the most convenient and lowest-cost payday loans in Canada,” said Syd Franchuk – Chairman of National Money Mart. “We welcome this important legislation and look forward to a competitive marketplace that balances strong consumer protection with a viable industry.”

Money Mart is a founding member of the Canadian Payday Loan Association (CPLA) that has been working for three years towards provincial regulation of the industry. Many elements of the legislation introduced mirror the CPLA’s Code of Best Business Practices put in place more than three years ago.

Ontario’s move to introduce viable and balanced industry regulation follows similar legislation in British Columbia, Saskatchewan, Manitoba and Nova Scotia.

About Dollar Financial Corp

Dollar Financial Corp is a leading international financial services company serving under-banked consumers. Its customers are typically service sector individuals who require basic financial services but, for reasons of convenience and accessibility, purchase some or all of their financial services from the Company rather than from banks and other financial institutions. To meet the needs of these customers, the Company provides a range of consumer financial products and services primarily consisting of check cashing, short-term consumer loans, Western Union money order and money transfer products, reloadable VISA® and MasterCard® branded debit cards, electronic tax filing, bill payment services, and legal document processing services.

At December 31, 2007, the Company’s global store network consisted of 1,442 stores, including 1,088 company-operated financial services stores and 354 franchised and agent locations in 32 states, the District of Columbia, throughout Canada and in the United Kingdom. The financial services store network is the largest network of its kind in each of Canada and the United Kingdom and the second-largest network of its kind in the United States. The Company’s customers, many of whom receive income on an irregular basis or from multiple employers, are drawn to the convenient neighborhood locations, extended operating hours and high-quality customer service. The Company’s financial products and services, principally check cashing and short-term consumer loan programs, provide immediate access to cash for living expenses or other needs. For more information, please visit the Company’s website at www.dfg.com.

Forward Looking Statement

This news release contains forward looking statements, including statements regarding the following: the Company’s future results, growth, guidance and operating strategy; the developing regulatory environment in Canada; the impact of future development strategy, new stores and acquisitions; and of the performance of new products and services. These forward looking statements involve risks and uncertainties, including uncertainties related to the effects of changes in the value of the U.S. dollar compared to foreign currencies, risks related to the regulatory environment, current and potential future litigation, the integration and performance of acquired stores, the performance of new stores, the implementation and results of restructuring initiatives, the impact of debt financing transactions, the results of certain ongoing income tax appeals, and the effects of new products and services on the Company’s business, results of operations, financial condition, prospects and guidance. There can be no assurance that the Company will attain its expected results, successfully integrate any of its acquisitions, attain its published guidance metrics, or that ongoing and potential future litigation or that the various FDIC, Federal, state, Canadian or foreign legislative or regulatory activities affecting the Company or the banks with which the Company does business will not negatively impact the Company’s operations. A more complete description of these and other risks, uncertainties and assumptions is included in the Company’s filings with the Securities and Exchange Commission, including those described under the heading “Risk Factors” in Form S-3 for the Company’s Senior Convertible Note offering filed with the SEC on September 20, 2007 and its fiscal 2007 annual report on Form-10K. You should not place any undue reliance on any forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.

For more information, please contact

Dollar Financial Corp.
Financial Dynamics
Julie Prozeller
(212) 850-5600
Website: www.dfg.com

free cash grants, free grant money, free money, cash grants, scholarships, business grants, foundation grants, government grants, debt grants, consolidation, college tuition, financial aid, medical grants, personal grants, medical bills, unsecured loans, no interest loans, financing, loans, capital, non profit organizations

Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89

Get Unlimited Organic Website Traffic to your Website 
TheNFG.com now offers Organic Lead Generation & Traffic Solutions





























Jordan Taylor

Jordan Taylor is Sr. Editor & writer from San Diego, CA. With over 20 years and 2650+ articles edited rest assured your Press Release will see traction.

Related Articles

Back to top button