By: Jason Ward, Broghan Dean “PAY DAY LOANS” TARGETED BY ONT. GOV. DURING COVID RECOVERY – CAPPING OF GREAT INTEREST RATES AND NSF CHARGES. The Ontario government is proposing modifications that will offer extra protection for cash advance borrowers by capping rates of interest and costs on defaulted loans, making certain employees and families whom use pay day loan solutions will keep more of their hard-earned cash.