Proposed Federal Regulations Reinforce the Protection of Consumers of Financial Services

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Proposed Federal Regulations Reinforce the Protection of Consumers of Financial Services

Author(s): Lamy, Marie-Eve, Lemieux, Marc

Date: March 15 2011

The Government of Canada continues to reinforce the protection of consumers of financial services. On March 8, 2011, following up on measures identified in the 2010 Budget of Canada’s Economic Action Plan (Year 2), it released two proposed regulations reducing the maximum hold period for cheques, and prohibiting negative option billing in the financial sector.

The following topics are discussed:

Negative Option Billing Regulations
Access to Funds Regulations

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