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Demands regarding high-cost credit agreements

Demands regarding high-cost credit agreements

The Consultation Paper considers a regulatory framework for high-cost financing this is certainly much like the lending regime that is payday.

We identify underneath the key areas of the proposition as well as for contrast purposes have actually supplied some details regarding QuГ©bec’s framework.

Disclosure demands: The Ministry proposes improved needs for lenders to reveal and review crucial conditions and terms of high-cost credit agreements with borrowers to make certain clear, simple and easy clear disclosure of rates, charges along with other loan that is key.