Header Side Menu Content Footer
Government of Manitoba
Consumer Protection –
Consumer Protection Office

New Rules for High-Cost Credit Products to Come into Force on September 1, 2016

New rules relating to high-cost credit products will come into force on September 1, 2016.  High-cost credit products are loans and lines of credit that may charge high rates of interest and/or various fees and charges that can be onerous for financially vulnerable consumers.

When the new legislation comes into force, only lenders, licensed through the Consumer Protection Office will be authorized to provide, offer or arrange high-cost credit products such loans and lines of credit.   
The new rules will ensure that consumers are provided with full and clear disclosure about costs before they sign a credit agreement, and that they have adequate protection to cancel an agreement within 48 hours or to pay back a loan early and without fee or penalty.

If you need to borrow money and are considering a high-cost credit product, shop around, take the time to review the loan agreement and take note of all fees that may occur during the term of the loan.  Starting September 1, 2016, the lender will have to disclose:

The new legislation can be found at:

The Consumer Protection Amendment Act (High-Cost Credit Products)

High-Cost Credit Products Regulation pdf

If you have any questions, please see the frequently asked questions page or contact the Consumer Protection Office at 204-945-3800, 1-800-782-0067 (toll-free) or via email at consumers@gov.mb.ca.

Get Started
Stay Connected to the Manitoba Government
Need More Info?