Canadian Lenders Association Establishes COVID-19 Consumer Lending Working Group

March 30th, 2020 (Toronto)—The Canadian Lenders Association (CLA) today announced the formation of a national working group to support consumer lenders in their response to COVID-19. The consumer lender working group will serve as an advisory committee and resource for CLA members and advocate on their behalf as ongoing actions are considered in efforts to provide additional credit to  Canadians disrupted by the Coronavirus.

Jason Mullins, Vice Chair of the CLA and CEO of goeasy Ltd. said, “Canadian consumers are in need of flexible sources of credit during this uncertain time. The CLA is committed to working with all its members and stakeholders to explore how they can best serve Canadians in response to the COVID-19 outbreak. We plan to stand by our customers and make sure our financial services are accessible as they navigate the financial challenges that lie ahead.”

Gary Schwartz, President of the CLA said, “In the weeks and months ahead, CLA members will have an important role to play in supporting consumer lending in Canada. The goal of this initiative is to engage with and advocate on behalf of all stakeholders across the innovative lending ecosystem to help mitigate the disruption that COVID-19 will create in Canada.”

The working group is assisting CLA members to respond to impact of COVID-19 on business activity and to engage policy makers and other constituencies on key strategic decisions related to the Coronavirus response.

About the Canadian Lenders Association

The CLA supports the growth of companies that are in the business of lending, or providing other means of credit, to small businesses and individuals using innovative means to exchange ideas and explore ways of improving the sector; encourage principled and professional practices; educate the public at large about innovative lending; encourage potential borrowers to be informed about the appropriateness of innovative lending to their circumstances; and to advocate on behalf of, and represent the interests of, innovative lenders. To learn more about the CLA, please visit its websites at: www.canadianlenders.org and at www.lendersevents.com