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September 2022 Advocacy Newsletter
Summary:
In the comment letter pipeline is the Government of Canada’s consultation on lowering the criminal rate of interest and the availability of high-cost instalment loans offered by alternative lenders (predatory lending). It’s been 40 years since the criminal interest rate was last reviewed. Any change to the criminal rate of interest would apply to all credit products and impact a large range of debt products and many of the most vulnerable members of Canadian society, so stay tuned.