It was earlier this year. Indeed.
Up to that point they had not been regulated. It allowed the provinces to do two things: set the fees—because as you point out, there are a lot of concerns there—but also to regulate market conduct in consumer protection issues. There are worries about rollovers and disclosures and practices.
Some provinces have begun to move on that—the Province of Manitoba and a few others. But I think it's fair to say that we have not seen the full progress across the country that I think would address some of the issues.
We know there is an association of payday lenders, and they have established a code of conduct that addresses many of those issues. But I think you're absolutely right; what we would need to see here is a combination of the industry addressing its practices through a code of conduct, but also regulatory activity.
You have commented on a United Way report about concerns of poverty. It's been a public policy challenge, I will say over the last few years, to really get a handle on why people use the payday lenders, who uses them, and their motivations for using them. I think it is fair to say that there's a range of motivations. I think what the United Way report focused on was a sector of the clientele. So your point is well taken.