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Lenders mind their own business. So should regulators

Those seeking a culprit for households’ runaway debt levels now have a convenient target, courtesy of a Bank of Canada study that suggests it is lenders that are at fault. Problem is, the closer you look at this idea, the shakier it appears. Blaming fierce competition among banks and payroll lenders for Canadians’ debt binge is akin to holding grocery stores liable for obesity.