TORONTO — Equifax Canada says it's exploring how using payday loan data could affect people's credit scores.
Equifax says this could improve credit scores for consumers with "responsive repayment of payday loans," potentially leading to better loan terms and interest rates for those customers as they seek to rebuild their credit. The government says this could help more renters become homeowners by strengthening their credit scores if they have a history of on-time rental payments.
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