British Columbia | Finance & Taxation | Store Operations

B.C. to regulate lenders of high-cost credit products

May 4, 2022

Beginning May 1, 2022, annual licensing and regulation for products such as installment loans and high interest (32%+) lines of credit will be required.

Changes have also been made to transparency requirements and borrower protections. The new framework will be administered by Consumer Protection BC.

More information is available here.

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