CCUA is pleased to participate in the Department of Finance’s “Consultation on Protecting Canadians from Predatory Lending.”

As a champion for consumer protection, the Canadian credit union sector supports changes to the Criminal Code that will enhance consumer protection. Our sector’s goal is to help Canadians improve their financial position with fair, fast, and easy-to-understand lending options. However, we recommend that proposed regulations need to be balanced to protect consumers, while also ensuring that smaller financial institutions are able to remain viable.  We also strongly recommend public and private sector partnerships to further expand offerings, bridge market gaps, and create new initiatives that empower Canadians to achieve their financial goals. The sector response can be found here.

Please contact Bolu Omidiji (bomidiji@ccua.com) if you have any questions or feedback.