Submission to Ontario Consultation on High-Cost Credit - PDF

The Ontario provincial government signalled its intent to add consumer protections for borrowers of higher-cost instalment loans – the loans oered to consumers who do not or cannot seek conventional bank-issued credit. It issued a questionnaire to seek public comment. To prepare a response, Consumers Council of Canada drew on multiple research reports it has produced. This paper responds to the government’s proposals, but also includes suggestions about reforms not addressed in the consultation paper.