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Feb 10, 2016
Financial Services Flash - Manitoba’s The Consumer Protection Act (High-Cost Credit Products)
On September 1, 2016, amendments to Manitoba’s The Consumer Protection Act, enacted by The Consumer Protection Amendment Act (High-Cost Credit Products), will come into effect. The CPA is amended to include a new Part XXV about high-cost credit products, introducing new disclosure and licensing requirements for lenders offering high-cost credit products to Manitoba consumers. Lenders who offer high-cost credit products nationally will have to adopt these new procedures when offering those products in Manitoba.