Working with consumers and businesses to ensure a fair marketplace for all Manitobans.

Money matters
High-cost credit products

High-cost Credit Products

New Rules for High-Cost Credit Products to 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.

Money Matters | High-cost Credit Products - Consumer Protection Office

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 principal amount of the loan
  • The term of the loan
  • The APR
  • The annual interest rate
  • Each high-cost credit fee that will or may be payable
  • The total cost of credit
  • The borrower's cancellation rights

For more information on the rules relating to high-cost credit products, please go to: //

The new legislation can be found at:

For more information or if you have questions you can visit the Manitoba Consumer Protection Office website at or see the contact us page for additional contact information.