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The Hamilton Spectator
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Wednesday, October 18, 2006
The 2006 Nobel Peace Prize has been awarded to Bangladeshi economist Muhammad Yunus and the Grameen Bank - the innovative micro-credit program he founded thirty years ago to help some of the world's poorest people climb out of chronic poverty. The Nobel Peace Prize is the latest of many awards Yunus has won for bringing this powerful idea to fruition. More...

Meanwhile, Stan Keyes has landed a new job, three months after the former federal cabinet minister and longtime Liberal MP was ousted as Boston Consul General by the Conservative government.

The 53-year-old will head up the Canadian Payday Loan Association, the lobby group for 22 firms that run more than 850 payday lending outlets across Canada.

The industry has had its share of controversy, with some critics saying payday lending victimizes the poor and plays an increasing part in bankruptcy cases. The federal Conservatives just introduced legislation to allow provinces to regulate the industry. Payday lending is worth about $1.7 billion each year, with more than 1,300 independent and chain stores.

Keyes, whose new job will see him lobby governments on regulations they create for the payday lending industry, said he accepted becoming CPLA president because he believes it will allow him to use all the skills he's developed over the last 30 years in politics and the media. More...

Recognizing two solitudes of Lending Agencies