The Globe and Mail reports in its Thursday edition that long-awaited changes to the lending rules under the Criminal Code will protect some vulnerable Canadians, but still leave many susceptible to predatory payday loans and without means to build credit, experts say. The Globe's Irene Galea writes that the payday loan industry offers short-term loans at high interest rates, and has been accused of taking advantage of vulnerable and low-income Canadians by trapping them in a cycle of borrowing more to pay previous debt. Lenders often offer two types of products: payday loans, which have a term of two weeks and a value of under $1,500, and instalment loans, which are for larger amounts and payable over a longer period. Ottawa said it intends to lower the maximum charge for payday loans, which are exempt from other loan legislation, to $14 for each $100 loaned. On an annualized basis, this results in an annual interest rate of 336 per cent. Last September, Canada Post launched its own consumer loan program, offering consumer loans between $1,000 and $3,000. However, it paused the program indefinitely in November when TD Bank, which is running the program, reported an apparent attack on the applications process.